PROSPECTUS
HONG KONG GOVERNMENT
31% REHABILITATION DOLLAR LOAN 1973/1978.
Issue not exceeding $150,000,000
Authorised by the Hong Kong (Rehabilitation) Loan Ordinance 1947.
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The Hong Kong and Shanghai Banking Corporation and the Chartered Bank of India, Australia and China on behalf of the Government of Hong Kong invite applications for $50,000,000 as above in Bearer Bonds of 1,000, 5,000 and 10,000 dollars. Applications must be for even thousands. Lists of applications will be opened on the 19th December, 1947, and will be closed on or before the 15th January, 1948.
The loan is secured on the general revenue and assets of Hong Kong and a Sinking Fund will be created for the redemption of the loan under the terms of Section 7 (5) of the Ordinance. Payments will be made into the Fund at the rate of not less than 1% of the amount subscribed, half of such sum being appro- priated on the 15th July, 1948, and similarly at half-yearly intervals thereafter. These payments will be supplemented to such a degree as is warranted by the financial position of the Colony. If the sinking fund is insufficient for the repay- ment of the loan at the date of redemption, the necessary additional funds will be appropriated from the general revenues and assets of the Colony.
The price of issue will be $100% which is payable in full on application. Interest will be payable half-yearly on the 15th January and the 15th July on the surrender of the coupons at the Head Office of the Hong Kong and Shanghai Banking Corporation or at the Hong Kong Office of the Chartered Bank of India, Australia and China. The first interest coupon will be payable on the 15th July, 1948.
The loan will be repayable at par not earlier than the 15th January, 1973, and not later than the 15th January, 1978.
The loan is one in which Trustees are authorised to invest under the pro- visions of the Trustees Ordinance 1934.
Hong Kong,
18th December, 1947.
C. G. S. FOLLOWS,
Acting Financial Secretary.
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