Felix Pinkston
Feb 13, 2025 15:22
The Hong Kong Financial Authority (HKMA) proclaims a young for 2-year Change Fund Notes on February 21, 2025, providing HK$1,200 million with an rate of interest of three.34% every year.
The Hong Kong Financial Authority (HKMA) has introduced {that a} tender for 2-year Change Fund Notes will happen on February 21, 2025. The settlement date is ready for February 24, 2025, as a part of a rollover plan for notes maturing on the identical day, based on the HKMA.
Particulars of the Tender
A complete of HK$1,200 million price of 2-year notes will probably be accessible. Of this, HK$5 million is reserved for non-competitive tender bids via 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 traders occupied with non-competitive tenders can submit purposes by way of Inventory Change Contributors/Brokers or immediately via HKSCC in the event that they maintain Investor Accounts on the Central Clearing and Settlement System (CCASS). Aggressive tender purposes needs to be submitted via Eligible Market Makers listed on the HKMA web site. Every tender should 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 entry the outcomes by way of Inventory Change Contributors/Brokers or immediately via the CCASS terminal.
Significance of the Tender
This tender is part of HKMA’s common issuance of Change 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, traders and events are inspired to contact Eligible Market Makers or seek the advice of the Info Memorandum revealed by the HKMA.
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