Malta Government Stocks - Results of Malta Government Stock Issues

On 11 August the Treasury announced that it received a total of 1,408 applications for the two new Malta Government Stocks for a value exceeding €101 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 €20 million.

The Treasury announced that it allotted a total of €89.8 million (nominal) as follows: €56.6 million in the 3.6% MGS 2013 (IV) FI and €33.2 million in the 5.0% MGS 2021 (I) FI.

Subscriptions from the General Public at the fixed prices established by the Treasury amounted to €22.9 million split up as follows: €11.5 million in the 3.6% MGS 2013 (IV) FI and €11.4 million in the 5.0% MGS 2021 (I) FI.

Meanwhile €45.2 million was allotted to institutional investors in the 3.6% MGS 2013 (IV) FI at prices ranging from a high of 100.43% to a cut-off rate of 100.10% compared to a fixed price of 100.25% for the General Public. Other tenders totalling €11.5 million remained unsatisfied since these were pitched at 100% and below the par value. In the 5.0% MGS 2021 (I) FI, all tenders for a total of €21.7 million were allotted to institutional investors at prices from 101.77% to 101.75%, equivalent to the fixed offer price.

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