XN000022-1994-09-19 — Page 8

MONDAY, SEPTEMBER 19, 1994

7

BD'S DEMOLITION SITES SAFETY PLAN ENDORSED

* * *

STEPS

TODAY

(MONDAY)

POSITIVE

AT

HONG KONG DEMOLITION

INSTITUTE SITES

OF

AND

TO

THE DIRECTOR OF BUILDINGS, MRS HELEN YU, WELCOMES THE

BY THE ANNOUNCED

SAFETY MEASURES SURVEYORS TO REVIEW STRENGTHEN CONTROL ON DEMOLITION WORKS.

OF

INDUSTRY IN

AN

PROPOSAL IS IN LINE WITH THE "THE INSTITUTE'S THREE-POINT SPIRIT OF GOVERNMENT'S ACTION PLAN DISCUSSED WITH REPRESENTATIVES THE INSTITUTE AND OTHER PARTIES IN THE CONSTRUCTION EMERGENCY MEETING LAST MONDAY,

MRS YU SAID.

GOVERNMENT'S PLAN WORKERS AND FOR THE PUBLIC," MRS YU ADDED.

"WE ARE GRATEFUL FOR THE INDUSTRY-WIDE

ΤΟ ENSURE THAT

SUPPORT

FOR

DEMOLITION

WORKS ARE SAFE

FOR

HKMA TO LAUNCH FIRST ISSUE OF FIVE-YEAR EXCHANGE FUND NOTES

THE

KONG HONG

MONETARY

AUTHORITY

(HKMA}

ANNOUNCED TODAY FIVE-YEAR EXCHANGE FUND (MONDAY) THE TENDER OF THE FIRST ISSUE OF NOTES, WHICH MATURES IN 1999, TO BE HELD NEXT MONDAY (SEPTEMBER 26).

FUND NOTES RESERVE BY

AN AMOUNT OF HK$500 MILLION IN FIVE-YEAR EXCHANGE WILL BE OFFERED. ANOTHER HK$100 MILLION WILL BE HELD AS THE HKMA FOR SUPPLY TO MARKET MAKERS IN THE SECONDARY MARKET.

WILL 1999,

CARRY PAYABLE SEMI-ANNUALLY IN

THE NOTES, WHICH MATURE ON SEPTEMBER 27, INTEREST AT THE RATE OF 7.45% PER ANNUM ARREARS.

TERMS AND CONDITIONS OF THE ISSUE ARE DESCRIBED FULLY INFORMATION MEMORANDUM.

IN THE

OFFERED

THE INTRODUCTION OF THE FIVE-YEAR NOTES, WHICH WILL BE ON A QUARTERLY BASIS, UNDERSCORES HKMA'S CONTINUOUS EFFORTS TO BROADEN AND DEEPEN THE HONG KONG DOLLAR DEBT MARKET.

CURVE THE FIVE-YEAR NOTES WILL HELP EXTEND THE BENCHMARK YIELD

FACILITATING PRICING FOR HONG KONG DOLLAR DEBT TO THE FIVE-YEAR AREA, OF PRIVATE ISSUES.

MATURITIES EXCHANGE FUND

CURRENTLY, THE BENCHMARK YIELDS FOR DEBT OF SHORTER ARE BEING ESTABLISHED BY THE THREE-YEAR AND TWO-YEAR NOTES.

WILL MARK FUND NOTES "THE ISSUANCE OF FIVE-YEAR EXCHANGE

THE

FUND EXCHANGE

NOTE ANOTHER MILESTONE

THE IN

DEVELOPMENT OF

ACTING CHIEF PROGRAMME AS WELL AS THE HONG KONG DOLLAR DEBT MARKET, EXECUTIVE OF THE HKMA, MR DAVID CARSE, SAID.

THE

||

INCREASE ALSO

THE

OF FIVE-YEAR NOTES WILL INTRODUCTION SUPPLY OF TOP QUALITY AND HIGHLY MARKETABLE DEBT INSTRUMENTS.

/BANKS CAN