The Accountant General is launching another issue of the 62+ Malta Government Savings Bond for those born in 1958 or before.
The amount on issue - €60million - will be subject to an over-allotment option of an additional amount up to a maximum of €35million, the government said on Tuesday.
The terms of the issue are very similar to the terms and conditions of the bonds issued over the past three years.
The Bond earns interest at a fixed rate of 3% per annum for the whole five-year term, maturing in 2025. It will be issued in units of €100 and cannot be negotiated, assigned or transferred onto any other individual, or pledged.
Interest is paid semi-annually in arrears on January and July 21. Bondholders may withdraw the whole amount invested before the maturity date subject to a penalty equivalent to three months gross interest on the principal amount withdrawn at the interest rate of the Bond.
Applications from eligible investors for a minimum amount of €500 and up to a maximum of €10,000 will open on July 15 at 8.30am and close the next day at 5pm, or earlier at the discretion of the Accountant General.
Subscriptions in the Bond are to be made in the sole name of the applicant.
More information here.
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