Malta Government Stocks - Results of MGS Issues

Friday, June 22nd, 2012

On 22 June, the Treasury announced that it received a total of 5,119 applications for the three new Malta Government Stocks  for a value exceeding €191.5 million (nominal). The Treasury had offered a total of €120 million with the option of increasing the aggregate amount by a maximum amount of an additional €60 million.

The Treasury stated that it allotted a total of €179.69 million (nominal) in the three fixed-rate stocks as follows: €48.05 million in the 3.75% MGS 2017 (IV); €52.49 million in the 4.3% MGS 2022 (II) FI  and €79.14 million in the 5.1% MGS 2029 (I).

Subscriptions from retail investors at the fixed prices established by the Treasury amounted to €97.44 million (nominal) split up as follows: €4.55 million (nominal) in the 3.75% MGS 2017 (IV), €34.99 million (nominal) in the 4.3% MGS 2022 (II) FI and €57.89 million (nominal) in the 5.1% MGS 2029 (I). All these applications were met in full.

The Treasury also accepted in full the bids lodged in respect of the 5-year and 10-year stocks. €43.5 million were allotted to institutional investors in the 3.75% MGS 2017 (IV) at prices ranging from a high of 102.30% to a cut-off rate equivalent to the fixed price for the General Public of 102% . In the 4.3% MGS 2022 (II) FI, €17.5 million were allotted to institutional investors at prices ranging from 100.70% to 100.25% which is the same as the fixed-offer price for the General Public. Meanwhile, in the 5.1% MGS 2029 (I), the Treasury allotted €21.25 million to institutional investors at prices ranging from 101.45% to 101.05%, with a further €11.9 million remaining unsatisfied despite being lodged at or above the offer price of 101%.

Download a copy of the June 2012 – Malta Government Stock Issue Statistics issued by the Treasury of Malta.

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