The Accountant General has announced the issue of €150 million Malta Government Stock subject to an over-allotment option of an additional €100 million.
The stock will be issued in tranches as follows:
- 0.50% Malta Government Stock 2023 (IV); and
- 0.80% Malta Government Stock 2027 (III); and
- 1.00% Malta Government Stock 2031 (II) Fungibility Issue (F.I.); or
- any combination of the above three stocks.
Applications in the form of sealed bids (auction) for a minimum of €500,000 and multiples of €100,000 each open on Wednesday, July 8 at 8.30 a.m. and close at noon of the same day or earlier at the discretion of the Accountant General.
Bids on the prescribed forms are to be transmitted by e-mail at the e-mail addresses indicated on the application form, or by fax on +356 2596 7210, or deposited in the Treasury’s tender box in Floriana.
The allotment results of each stock will be determined and announced two hours after the closing time of the auction.
The application forms may be obtained from all members of the Malta Stock Exchange and other authorised investment service providers or downloaded from the Treasury’s website.
Indicative pricing guidelines will be announced through a press release on Tuesday, July 7, consisting of an indicative spread over the corresponding euro mid-swap rates, broadly reflecting the secondary market conditions with respect to the 0.50% Malta Government Stock 2023 (IV), 0.80% Malta Government Stock 2027 (III) and the 1.00% Malta Government Stock 2031 (II).
More information on the stocks can be found in the offering crcular which together with the general prospectus and Malta Government Stocks Regulations can be downloaded from the Treasury’s website at www.treasury.gov.mt.