Malta Government Stocks - New Malta Government Stock Issues

On 12 June, the Treasury of Malta announced the issue of 3 new Malta Government Stocks to refinance the Lm35.25 million redemption of the 5.6% MGS 2007 (III) on 10 June. The General Public has a choice of 3 new stocks as follows:

(i) A fungible issue of the 5.7% MGS 2012 (III) at 102.75% for every Lm100 nominal giving a yield to maturity of 5.1% per annum. The issue is of Lm15 million with an over-allotment option of a maximum of Lm15 million;

(ii) A fungible issue of the 5.9% MGS 2015 (II) at 105.00% for every Lm100 nominal giving a yield to maturity of 5.15% per annum. The issue is also of Lm15 million with an over-allotment option of a maximum of Lm15 million;

(iii) A new 13-year paper maturing in 2020 issued at 100% (par) with a coupon of 5.2%. The Treasury is issuing Lm10 million with an over-allotment option of a maximum of Lm10 million.

Subscriptions open on Monday 18 June and close on Friday 22 June.