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Tender of 2-Year Exchange Fund Notes to be held on February 19

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announces that a tender of 2-year Exchange Fund Notes will be held on February 19, 2019 (Tuesday) for settlement on February 20, 2019 (Wednesday), as set out in the tentative issuance schedule announced on November 15, 2018. This is to roll over an issue of 2-year Exchange Fund Notes maturing on the same day. 

     A total of HK$1,200 million 2-year Notes will be on offer, of which HK$5 million will be made available for offer to members of the Public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited (HKSCC). If the Notes reserved for non-competitive tender are under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$1,195 million). The Notes will mature on February 22, 2021 and will carry interest at the rate of 1.54 per cent per annum payable semi-annually in arrears.

     Members of the public who wish to submit non-competitive tender applications for Notes that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investor Accounts of the Central Clearing and Settlement System (CCASS) at the HKSCC, directly through HKSCC, for submission to the HKMA for processing. Competitive tender applications for the Notes must be submitted through any of the Eligible Market Makers on the current published list, which can be obtained from the HKMA at 55/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong (Tel: 2878 1465), or from the HKMA’s website at www.hkma.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.

     The tender results will be published on the HKMA’s website, the Reuters screen (HKMAOOE), and Bloomberg. Applicants who submitted non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants who hold Investor Accounts at HKSCC’s CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.

Hong Kong Monetary Authority Exchange Fund Note Programme Tender Information
———————————————————————————————-

Tender information of 2-Year Exchange Fund Notes:
 

Issue Number : 02Y2102
 
Stock code : 4075(EFN 1.54 2102)
 
Tender date and time : February 19, 2019 (Tuesday)
9.30 am to 10.30 am
 
Issue and Settlement Date
 		 : February 20, 2019 (Wednesday)
 
Amount on offer : HK$1,200 million
(up to HK$5 million for non-competitive tender)
 
Commencement of/
Deadline for
submission of non-competitive tender bids by retail investors through HKSCC
 		 : Please refer to requirements as set down by HKSCC
Maturity : Two years
 
Maturity Date : February 22, 2021 (Monday)
 
Interest Rate : 1.54 per cent p.a.
 
Interest Payment Dates : Aug 20, 2019
Feb 20, 2020
Aug 20, 2020
Feb 22, 2021
 
Tender amount : Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-
competitive tender. Members of the public who wish to apply for the Notes through non-competitive tenders that are open to HKSCC may do so through Stock Exchange Participants/ Brokers, or for those who hold Investors Accounts at HKSCC’s CCASS, directly through HKSCC. Members of the public who wish to apply for the Notes through competitive tender may only do so through any of the Eligible Market Makers on the current published list.
 
Other details : Please see Information Memorandum published or approach Eligible Market Makers, HKSCC, or brokers who are Exchange Participants of the Stock Exchange of Hong Kong.
 
Expected commencement date of dealing on the Stock Exchange of Hong Kong : February 21, 2019 (Thursday)
 

Price/Yield Table of the new EFN at tender for reference* only :
 
Yield-to-Maturity Price Yield-to-Maturity Price
0.54 101.99 1.54 100.01
0.59 101.89 1.59 99.91
0.64 101.79 1.64 99.82
0.69 101.69 1.69 99.72
0.74 101.59 1.74 99.62
0.79 101.49 1.79 99.53
0.84 101.39 1.84 99.43
0.89 101.29 1.89 99.33
0.94 101.19 1.94 99.24
0.99 101.09 1.99 99.14
1.04 100.99 2.04 99.04
1.09 100.89 2.09 98.95
1.14 100.80 2.14 98.85
1.19 100.70 2.19 98.76
1.24 100.60 2.24 98.66
1.29 100.50 2.29 98.57
1.34 100.40 2.34 98.47
1.39 100.30 2.39 98.38
1.44 100.21 2.44 98.28
1.49 100.11 2.49 98.19
1.54 100.01 2.54 98.09

* Disclaimer

The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it. The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here. read more

East Asia

Auction of personalised vehicle registration marks on March 30

     The Transport Department (TD) today (February 8) announced that the next auction of personalised vehicle registration marks (PVRMs) will be held on March 30 (Saturday), at Meeting Room S421, L4, Hong Kong Convention and Exhibition Centre, Wan Chai.

     “A total of 234 approved PVRMs will be put up for public auction. A list of the marks was posted on the department’s website, www.td.gov.hk, today,” a department spokesman said.

     The reserve price of all these marks is $5,000. Applicants who have paid a deposit of $5,000 should also participate in the bidding (including the first bid at the reserve price). Otherwise, the PVRM concerned may be sold to another bidder at the reserve price.

     People who wish to participate in the bidding at the auction should take note of the following important points:

(i) Paddle bidding will be used at this auction;

(ii) The display of a PVRM on a motor vehicle should be in compliance with the requirements stipulated in Schedule 4 of the Road Traffic (Registration and Licensing of Vehicles) Regulations;

(iii) Any change to the arrangement of letters, numerals and blank spaces of a PVRM, i.e. single and two rows as auctioned, will not be allowed;

(iv) Purchasers must make payment of the purchase price through the Easy Pay System (EPS) or by crossed cheque and complete the Memorandum of Sale of PVRM immediately after the bidding for the PVRM concerned. Subsequent alteration of the particulars in the memorandum will not be permitted. For an auctioned mark paid for by cheque, the first three working days after the date of auction will be required for cheque clearance confirmation before processing of the application for mark assignment can be completed; and

(v) The purchaser shall, within 12 months after the date of auction, apply to the Commissioner for Transport for the PVRM to be assigned to a motor vehicle registered in the name of the purchaser. If the purchaser fails to assign the PVRM within 12 months, allocation of the PVRM will be cancelled and arranged for re-allocation in accordance with the statutory provision without prior notice to the purchaser.

     “Upon completion of the Memorandum of Sale of PVRM, the purchaser will be issued a receipt and a Certificate of Allocation of Personalised Registration Mark. The Certificate of Allocation will serve to prove the holdership of the PVRM. Potential buyers of vehicles bearing a PVRM should check the Certificate of Allocation with the sellers and pay attention to the details therein. For transfer of vehicle ownership, this certificate together with other required documents should be sent to the TD for processing,” the spokesman said.

     For other auction details, please refer to the Guidance Notes – Auction of PVRM, which is available at the department’s licensing offices or can be downloaded from its website, www.td.gov.hk . read more

East Asia