Felix Pinkston
Feb 13, 2025 15:22
The Hong Kong Financial Authority (HKMA) pronounces a young for 2-year Trade Fund Notes on February 21, 2025, providing HK$1,200 million with an rate of interest of three.34% each year.
The Hong Kong Financial Authority (HKMA) has introduced {that a} tender for 2-year Trade Fund Notes will happen on February 21, 2025. The settlement date is about for February 24, 2025, as a part of a rollover plan for notes maturing on the identical day, in line with the HKMA.
Particulars of the Tender
A complete of HK$1,200 million value of 2-year notes will probably be accessible. Of this, HK$5 million is reserved for non-competitive tender bids by way of the Hong Kong Securities Clearing Firm Restricted (HKSCC). Any undersubscribed quantity from this part will probably be added to the aggressive tender portion, initially set at HK$1,195 million. The notes, maturing on February 24, 2027, will carry an annual rate of interest of three.34%, payable semi-annually.
Software Course of
Retail buyers concerned about non-competitive tenders can submit functions by way of Inventory Trade Individuals/Brokers or straight by way of HKSCC in the event that they maintain Investor Accounts on the Central Clearing and Settlement System (CCASS). Aggressive tender functions needs to be submitted by way of Eligible Market Makers listed on the HKMA web site. Every tender have to be for HK$50,000 or its multiples.
Publication of Outcomes
The outcomes of the tender will probably be accessible on the HKMA’s web site, in addition to on the Refinitiv display screen (HKMAOOE) and Bloomberg. Non-competitive bidders may also entry the outcomes by way of Inventory Trade Individuals/Brokers or straight by way of the CCASS terminal.
Significance of the Tender
This tender is part of HKMA’s common issuance of Trade Fund Notes, that are pivotal for managing financial stability and offering a risk-free benchmark for the native bond market. The issuance aligns with HKMA’s ongoing technique to make sure liquidity and stability in Hong Kong’s monetary markets.
For additional particulars, buyers and events are inspired to contact Eligible Market Makers or seek the advice of the Info Memorandum printed by the HKMA.
Picture supply: Shutterstock
