On 13 January the Treasury announced that during 2011 it aims to issue a total of €570 million in Malta Government Stocks (MGS) to finance its borrowing requirements during the year as well as to finance total MGS redemptions of €128.4 million. The Treasury explained that similar to last year it will be issuing two different types of securities – the conventional fixed rates MGS and also Floating rate MGSs linked to the 6-month Euribor.
The Treasury is aiming to spread its issuance programme over 5 issues between February and November 2011, with issues planned approximately every two months. The maturity structure of the 2011 MGS issues will be a mix of (i) 5 to 9-year stocks and (ii) stocks with maturities over 10 years.
The first issue is expected to take place in February 2011.