CONFIDENTIAL
財政司辦公廳
FINANCIAL SECRETARY'S OFFICE, THE SECRETARIAT,
HONG KONG,
29
BY BAG
R D Clift Esq
Hong Kong Department
F CO
Star Dick,
BOND ISSUE
HKK
6 December 1983
Mr. Ham
Mr. Hoare
£4, consider implications
090/4
RECEIVER N APOISTRY
по
15 DEC 1983
KFB.
15/122
28
This
Thank you for your letter of 29 November. I attach an extract from the minutes of my senior staff meeting held on 30 November. None of this has yet been announced in public and indeed it cannot be until we feel that it is politically safe to go ahead. The present thinking is to call for tenders publicly in the early part of the next financial year. Legislation has long been in place. also has yet to be decided but I would imagine that we would be looking for not less than $600 m. and not more than $1 b. We are seeking Schroders' advice on this and other issues e.g. period and coupon. I started off by thinking in terms of a City Polytechnic bond; I then got to Universities and Polytechnics bond; and now have agreed that for technical reasons it will have to be a general capital bond but with publicity centred on the requirements of the universities and polytechnics.
2.
A proper time to announce our intentions would be in the budget speech. The bonds will obviously fall into place as part of my budget strategy.
3.
I don't know where Robert Cottrell got his leak from.
Yourd Fer.
Pohn.
(John Bremridge) Financial Secretary
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