Government of Malta - Results of MGS Issues

On 4 November, the Treasury announced that it received a total of 6,300 applications for the two new Malta Government Stocks  for a value exceeding €229.4 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 €179.98 million (nominal) in the two fixed-rate stocks as follows: €39.53 million in the 3.0% MGS 2019 (III) FI and €140.45 million in the 4.65% MGS 2032 (I).

Subscriptions from retail investors at the fixed prices established by the Treasury amounted to €149.98 million (nominal) split up as follows: €15.03 million (nominal) in the 3.0% MGS 2019 (III) FI and €134.95 million (nominal) in the 4.65% MGS 2032 (I). All these applications were met in full.

The statistics published by the Treasury indicate that €24.5 million were allotted to institutional investors in the 3.0% MGS 2019 (III) FI at prices ranging from a high of 104.60% to a cut-off price of 103.96% compared to the fixed price for the General Public of 103.75%. A further €47.5 million remained unsatisfied at prices ranging from 103.95% to 103.74%. In the 4.65% MGS 2032 (I), out of the €7.5 million tendered, €5.5 million were allotted to institutional investors at prices ranging from a high of 102.20% to a cut-off price of 100.52% compared to the fixed-offer price for the General Public of 100.25%. The balance of €2 million remained unsatisfied despite being lodged above the fixed offer price.

Download a copy of the November 2013 – Malta Government Stock Issues Statistics issued by the Treasury of Malta.