A €50 million government stock issue was oversubscribed six times over by the time it closed on Friday at noon, with the Treasury wrapping up the exercise with a total €80 million allocation.

Offers totalling €298.9 million were submitted for the government stock offer, resulting in a 5.98 bid-to-cover ratio. 

Of those offers, €172.9 million were for a 0.5% government stock offer stretching to 2025, with €126 million for a 1.85% offer to 2029. 



The Treasury activated a €30 million over-allotment option and accepted a total of €80 million in bids. 

Prime Minister Joseph Muscat welcomed the overwhelming demand, noting that most of the bids came at negative yield and saying the oversubscription was a “clear sign of institutional investor confidence”. 

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