Tender of 2-Year Exchange Fund Notes to be held on 22 November 2024

The Hong Kong Monetary Authority (HKMA) will conduct a tender for 2-year Exchange Fund Notes on November 22, 2024, to roll over maturing notes. A total of HK$1,200 million in notes will be offered, with HK$5 million set aside for public non-competitive bids via the Hong Kong Securities Clearing Company Limited (HKSCC). If the non-competitive portion is undersubscribed, the remainder will be allocated to competitive bids. The notes will mature on November 25, 2026, and offer an interest rate of 3.19% per annum. Both competitive and non-competitive tender applications can be submitted through eligible brokers or HKSCC, with a minimum bid amount of HK$50,000. Tender results will be published on the HKMA website and financial platforms like Bloomberg.

Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/11/20241113-3/