Government of Malta - Pricing of New MGS Issues

On 13 November 2025, the Treasury Department established the prices for the three new Malta Government Stocks for an aggregate nominal amount of €350 million subject to an over-allotment option of up to a further €100 million as follows:

(i) 2.55% MGS 2030 (V) at 100.00% for every €100 nominal giving a yield-to-maturity of 2.5495% per annum; and

(ii) 3.40% MGS 2035 (IV) F.I. at 100.00% for every €100 nominal giving a yield-to-maturity of 3.3996% per annum; and

(ii) 3.80% MGS 2040 (II) F.I. at 100.00% for every €100 nominal giving a yield-to-maturity of 3.7997% per annum.

The General Public has the possibility of applying for these stocks in multiples of €100 and up to a maximum of €499,900 (nominal) per application.

Investors interested in applying for any of the new Malta Government Stocks are kindly asked to complete an ‘Assessment & Confirmation Form’ and an Application Form which may be downloaded from the below links:

Application Form – 2.55% MGS 2030 (V)

Application Form – 3.40% MGS 2035 (IV) F.I.

Application Form – 3.80% MGS 2040 (II) F.I.

Assessment & Confirmation Form

Subscriptions for the General Public open on Monday 17 November 2025 and close on Wednesday 19 November 2025 at 14:30 hrs – or earlier at the discretion of the Accountant General.

For applications in excess of €500,000 (nominal), a tendering process will apply. Tenders in the form of sealed bids will open on Friday 21 November 2025 and close on the same day at 12:00 hrs (noon) – or earlier at the discretion of the Accountant General.

Further information is available in the Offering Circular dated 7 November 2025 issued by the Government of Malta.

The value of these investments and the income derived therefrom may fall as well as rise and investors may not get back the amount originally invested. These investments are subject to Collective Action Clauses (CACs). Investors should refer to the General Prospectus of the Malta Government Stocks for further details about the risks of these investments.

For any clarifications, please send an email to info@rizzofarrugia.com or contact us on +356 2258 3000.

This e-mail is being sent for information purposes only and does NOT constitute personal investment advice or recommendation.  The recipient’s specific personal circumstances and investment objectives have NOT been considered and therefore, the investments mentioned may not be suitable for all its recipients.  Recipients should consult their investment advisor for personal investment advice on the investments mentioned in this e-mail. The value of the investments and the income therefrom may go down as well as up and investors may lose some or all of the money invested.

Investors should read the Offering Circular before making any investment decisions in order to fully understand the potential risks and rewards associated with an investment in the Stocks.

This ADVERTISEMENT has been issued by Rizzo, Farrugia & Co. (Stockbrokers) Limited which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The Company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.