On 7 September 2023, the Treasury Department announced that it received applications totalling around €327 million (nominal) for the two new Malta Government Stocks. The Treasury had offered a total of €260 million (nominal), with the option of increasing the aggregate amount by a maximum amount of a further €140 million (nominal). The Treasury exercised part of its over-allotment option and allotted a total of €303.5 million (nominal).
Subscriptions from retail investors at the fixed prices established by the Treasury Department amounted to around €81.5 million (nominal) and all applications in compliance with the terms of the Offering Circular will be accepted in full. The Treasury explained that the final nominal amount allotted to retail investors for each MGS will be published once the vetting of applications is completed.
The Treasury also allotted a total of €222 million (nominal) to institutional investors. The statistics published by the Treasury indicate that €217 million were allotted to institutional investors in the 4.00% MGS 2033 (IV) at prices ranging from a high of 101.40% (translating into a yield-to-maturity of 3.83%) to a cut-off price of 97.67% (YTM: 4.28%). The weighted average price for accepted bids was of 98.999%, which translates to a YTM of 4.12%.
In the 4.30% MGS 2038 (II), a total of €5 million (nominal) were allotted to institutional investors at prices ranging from 102.00% (YTM: 4.12%) to a cut-off price of 99.50% (YTM: 4.34%). The weighted average price for accepted bids was of 100.685%, which translates to a YTM of 4.24%.
Download a copy of the September 2023 – Malta Government Stock Issue Interim Statistics published by the Treasury Department.
On 18 September 2023, the Treasury Department published the September 2023 – Malta Government Stock Issue Final Results.