THE Hong Kong Monetary Authority (HKMA) is to hold a tender for its fifth issue of $500 million worth of three-year Exchange Fund notes next Monday.

The authority said yesterday that a further $100 million would be held in reserve for supply to market-makers in the secondary sector.

The notes on offer will carry a 7.25 per cent semi-annual coupon. Tenders are for a minimum of $50,000.