Malta Government Stocks - Results of MGS Issues

Tuesday, February 7th, 2012

On 7 February, the Treasury announced that it received a total of 6,170 applications for the three new Malta Government Stocks  for a value exceeding €274 million (nominal). The Treasury had announced the issue of  three MGS’s for a total of €150 million with the option of increasing the aggregate amount by an additional of a maximum of €150 million. All applications by retail investors and also all bids by institutional investors were allotted in full as follows: €39.8 million (nominal) in the 4.25% MGS 2017 (III) FI, €158.5 million (nominal) in the 4.3% MGS 2022 (II) and €76.4 million (nominal) in the 5.2% MGS 2031 (I) FI.

Subscriptions from retail investors at the fixed prices established by the Treasury amounted to €123.2 million (nominal) split up as follows: €6.3 million (nominal) in the 4.25% MGS 2017 (III) FI, €71.3 million (nominal) in the 4.3% MGS 2022 (II) and €45.7 million (nominal) in the 5.2% MGS 2031 (I) FI.

Tenders by institutional investors amounting to €151.5 million (nominal) were split up as follows: €33.5 million (nominal) were allotted in the 4.25% MGS 2017 (III) FI at prices ranging from a high of 105.10% to a cut-off rate equivalent to the fixed offer price of 103.75%; €87.2 million (nominal) in the 4.3% MGS 2022 (II) at prices ranging from 101.65% to a cut-off rate equivalent to the fixed offer price of 100%; €30.8 million (nominal) in the 5.2% MGS 2031 (I) FI were allotted to institutional investors at prices ranging from 103.05% to 101.75% (equivalent to the fixed offer price).

Download a copy of the February 2012 – Malta Government Stock Issues Statistics issued by the Treasury of Malta.

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