Government announces €75m stocks issue - with option for extra €25m

The Accountant General this afternoon announced the issue of €70 million in Government Stocks subject to an over-allotment option of an additional €25 million. The offer opens next Monday. The issue will be as follows:

(i) 3.6% Malta Government Stock 2013 (IV), or

(ii) 5% Malta Government Stock 2021 (I) (Fungibility Issue), or of

(iii) Any combination of the two stocks shall in the aggregate be €70,000,000

The price for each stock shall be established three days prior to opening of the applications and will be announced to the Malta Stock Exchange and the daily local newspapers.

The issue closes at 5pm on Wednesday March 11, 2009 for applications by any single and/or joint applications which in the aggregate do not exceed €100,000 per person, and on Friday March 13 at noon for applications in the form of sealed bids (auction). The applications may close earlier.

The allotment results of each stock to applicants whose applicants are in the form of sealed bids (auction) will be determined and announced within two hours immediately after the closing time of applications by auction.

Application forms may be obtained from and lodged at all members of the Malta Stock Exchange and other authorised Investment Service Providers.