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Tender for the 8th issue of 5-year exchange fund notes

The Hong Kong Monetary Authority (HKMA) today (Monday) announces the tender for the eighth issue of 5-year exchange fund notes will be held on June 10 for settlement on June 11.

offer.

Similar to the previous issue, an amount of $500 million 5-year notes will be on

In addition to that, another $100 million will be held as reserve by HKMA for supply to market makers in the secondary market. The notes will mature on June 11, 2001, and will carry interest at the rate of 7.23 per cent per annum payable semi- annually in arrears.

Members of the public who wish to tender for the notes may do so through any of the market makers or recognised dealers on the published list which can be obtained from HKMA at 30th floor, 3 Garden Road, Hong Kong, Tel 2878 8150. Each tender must be for an amount of $50,000 or integral multiples thereof.

Following is the tender information for the eighth issue of 5-year exchange fund notes:

Issue number

Tender date and time

Issue and settlement date

Amount on offer

: 5106

: Monday June 10, 1996, 9.30 am to 10.30 am

: Tuesday June 11, 1996

: $500 million plus an additional $100 million as reserve

stock for the Monetary Authority

: Five years

Maturity

Maturity date

: June 11, 2001

Interest rate

Interest payment dates

: 7.23% per annum payable semi-annually in arrears

: Dec 11, 1996, Jun 11, 1997,

Dec 11, 1997, Jun 11, 1998,

Dec 11, 1998, Jun 11, 1999, Dec 13, 1999, Jun 12, 2000,

Dec 11, 2000, Jun 11, 2001

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