The Hong Kong Monetary Authority (HKMA) just spilled the beans on their upcoming plan to hold a juicy tender for 2-year Exchange Fund Notes. So, mark your calendars for May 23, 2025, because that’s when all the excitement is about to go down. The HKMA is looking to roll over some maturing notes worth a cool HK$1,200 million with a sweet 2.16% interest rate. Talk about making money moves!
Tender Teaser
Get ready for the HKMA to drop a total of HK$1,200 million in notes during this tender. They’ve set aside HK$5 million for folks who want to throw in non-competitive bids through the Hong Kong Securities Clearing Company Limited (HKSCC). But hey, if the non-competitive section doesn’t get enough love, the leftover amount will just slide on over to the competitive side, starting at HK$1,195 million. These notes are set to reach maturity on May 26, 2027, bringing in an annual interest rate of 2.16% that’ll be paid out twice a year. Cha-ching!
Join the Fun
If you’re itching to get in on the action, here’s how you can play your part. Wanna go non-competitive? You can toss in your applications through Stock Exchange Participants/Brokers or shoot straight to the HKSCC if you’ve got Investor Accounts hanging out in the Central Clearing and Settlement System (CCASS). Feeling a bit more competitive? Then hop on board with the Eligible Market Makers appointed by the HKMA. Just remember, each application needs a minimum of HK$50,000 or more in multiples. And hey, don’t stress if you’re not sure what to do next. The HKMA will drop the results on their official website, as well as on the Refinitiv screen (HKMAOOE) and Bloomberg. If you’re one of those non-competitive bidders through HKSCC, you can also slide over to Stock Exchange Participants/Brokers or hit up your CCASS terminals for the scoop. So, get ready for some note-tastic fun on May 23!
And There’s More
The big day, dubbed Issue Number 02Y2705 and stock code 4105 (EFN 2.16 2705), is set to kick off between 9:30 a.m. and 10:30 a.m. sharp. The HKMA is all about spreading the love, so they’re encouraging all you interested peeps to dive into the Information Memorandum or reach out to Eligible Market Makers, HKSCC, or the brokers listed as Exchange Participants on the Stock Exchange of Hong Kong for all the deets. Now, who’s ready to dive into this money-making venture? Get those applications ready and let’s make some sweet deals on May 23!