The Hong Kong Financial Authority (HKMA) has introduced a forthcoming tender for 2-year Change Fund Notes, scheduled for Might 23, 2025. This initiative goals to roll over an present concern of notes set to mature on the identical date. The settlement for these notes will happen on Might 26, 2025, in line with the HKMA’s printed tentative issuance schedule.

Tender Particulars

The HKMA will supply a complete of HK$1,200 million in notes, with HK$5 million reserved for non-competitive tender bids by the general public via the Hong Kong Securities Clearing Firm Restricted (HKSCC). Ought to the non-competitive portion be under-subscribed, the remaining quantity can be added to the aggressive tender portion, initially set at HK$1,195 million. The notes will mature on Might 26, 2027, carrying an annual rate of interest of two.16%, payable semi-annually.

Participation Course of

Public contributors fascinated about non-competitive tenders can submit purposes by way of Inventory Change Members/Brokers or immediately via the HKSCC in the event that they possess Investor Accounts throughout the Central Clearing and Settlement System (CCASS). Aggressive tender purposes should be submitted via the HKMA’s appointed Eligible Market Makers, with every software requiring a minimal of HK$50,000 or multiples thereof.

The HKMA will publish the tender outcomes on its official web site, in addition to on the Refinitiv display (HKMAOOE) and Bloomberg. Candidates who submitted non-competitive bids via HKSCC may also get hold of outcomes by way of Inventory Change Members/Brokers or immediately from their CCASS terminals.

Additional Info

The tender, designated as Subject Quantity 02Y2705 and inventory code 4105 (EFN 2.16 2705), will happen between 9:30 a.m. and 10:30 a.m. on the desired date. The HKMA encourages events to seek the advice of the Info Memorandum or contact Eligible Market Makers, HKSCC, or brokers listed as Change Members on the Inventory Change of Hong Kong for extra particulars.

For extra complete data, the HKMA’s full announcement might be accessed right here.

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