Malta Government Stocks - Results of Malta Government Stock Issues

On 26 June the Treasury announced that it received a total of 1,129 applications for the two new Malta Government Stock issues for a value exceeding €129 million. The Treasury had announced the issue of two stocks for a total of €100 million with the option of increasing the aggregate amount by up to an additional €120 million.

The Treasury announced that it allotted a total of €108 million (nominal) as follows: €82.8 million in the 3.6% MGS 2013 (IV) FI and €25.6 million in the 5.20% MGS 2020 (I) FI.

Subscriptions from the General Public at the fixed prices established by the Treasury amounted to €19.9 million split up as follows: €8.8 million in the 3.6% MGS 2013 (IV) FI and €11.1 million in the 5.20% MGS 2020 (I) FI.

Meanwhile €74 million was allotted to institutional investors in the 3.6% MGS 2013 (IV) FI at prices ranging from a high of 99.69% to a cut-off rate of 99.50%. Other tenders totalling €13.2 million remained unsatisfied since these were pitched below the 99.50% level. In the 5.2% MGS 2020 (I) FI, tenders for a total of €14.5 million were allotted to institutional investors at prices from 103.56% to 103.50% with unsuccessful tenders amounting to €7.5 million.

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