Government of Malta - Allotment Policy

On 5 August, the Treasury issued a press release announcing that it received a total of 5,654 applications from the general public for the two new Malta Government Stocks for a value exceeding €193 million (nominal). As a result, the Treasury exercised the over-allotment option of €80 million and it will be issuing €180 million split up as follows: €6,044,300 (nom) 2% MGS 2020 and €173,955,700 (nom) 4.1% MGS 2034.

The following allotment policy is being adopted across the two issues:

2% MGS 2020

– 39 applications having a nominal value of €6,044,300 will be accepted in full.

4.1% MGS 2034

– 5049 applications up to €70,000 (nom) will be accepted in full;

– 566 applications in excess of €70,000 (nom) will receive the first €70,000 (nom) per application, plus an additional 40% of the remaining balance, rounded to the nearest €100.

The Treasury explained that this allocation policy will satisfy nearly 93% of the total nominal amount of applications received in the 4.1% MGS 2034 (I).

The Treasury did not disclose the date of any refunds to applicants and the listing dates of the two MGS as yet.