ISSUE OF EURO 100,000,000 MALTA GOVERNMENT STOCKS [ S.L.161.132 1 SUBSIDIARY LEGISLATION 161.132 DIRECTIVE BY THE MINISTER FOR FINANCE FOR THE ISSUE OF EURO 100,000,000 MALTA GOVERNMENT STOCKS 23rd May, 2014 LEGAL NOTICE 176 of 2014. 1. The title of this directive is Directive by the Minister for Finance for the issue of Euro 100,000,000 Malta Government Stocks. 2. An amount of Euro 100,000,000 Malta Government Stocks shall be issued as follows: Citation. Issuing of Stock. (
- a)4.3% Malta Government Stock 2033 (I), and (
- b)Floating Rate Malta Government Stock 2018 (VII) linked to the six-month Euribor, or (
- c)any combination of the above two Stocks which shall in the aggregate be Euro 100,000,000. 3. These Stocks shall be issued as set out in the relative prospectus regulating the issuance of: Mode of issuing Stocks. (
- a)4.3% Malta Government Stock 2033 (I); and (
- b)Floating Rate Malta Government Stock 2018 (VII) linked to the six-month Euribor. 4. All persons and, or entities are eligible to apply for these Stocks. Allotment will be applied as set out in the relative prospectus. 5.
(1)In terms of the Financial Markets Act, when these Stocks have been allotted, an application shall be made for the respective Stock to be placed on the official list and for trading on the Malta Stock Exchange. Allotment policy. Trading on the Malta Stock Exchange. Cap. 345.
(2)On the 1st August, 2014 after the payment of the first interest as indicated in article 7
(1)(a) and (b), any amount allotted u nd e r t h e 4 . 3 % M a l t a Go v e r n m e n t St o c k 2 0 3 3 ( I ) s h a l l b e integrated and thereafter both shall be deemed to be one Stock.
- The sum of money to be raised by either Stock, or of any combination of the two Stocks, shall in the aggregate be Euro 100,000,
- The Accountant General reserves the right to increase the sum of money to be raised by a maximum of Euro 80,000,
- 7.
(1)Interest at the rate of Euro 2.15 for every Euro 100 in respect of the 4.3% Malta Government Stock 2033 (I) shall be payable half-yearly in arrears on the 1st day of February and the 1st day of August in every year for the duration of the Stock: (
- a)the first pro rata interest payment in respect of the allotted amount from applications submitted by Sum of money to be raised. Rate of interest and dates of payment. 2 [ S.L.161.132 ISSUE OF EURO 100,000,000 MALTA GOVERNMENT STOCKS members of the public covering the period from the 9th day of June, 2014 to the 31st day of July, 2014 (both dates inclusive), shall be made on the 1st day of August, 2014; (
- b)the first pro rata interest payment in respect of the allotted amount from bids/applications submitted by institutional investors covering the period from the 12th day of June 2014 to the 31st day of July, 2014 (both dates inclusive), shall be made on the 1st day of August, 2014.
(2)Interest on the Floating Rate Malta Government Stock 2018 (VII) linked to the six-month Euribor shall be paid at the rate linked to the six-month Euribor issued by Euribor-EBF in effect on the applicable interest determination date, plus a spread of 90 basis points (bps) calculated on Day Count Fraction (Actual/360) for every Euro 100. The spread of 90bps is fixed and applicable until the maturity of the Stock.
(3)(
- a)Interest on the Floating Rate Malta Government Stock 2018 (VII) linked to the six-month Euribor shall be payable half yearly in arrears on the 12th of June and 12th of December in every year for the duration of the Stock. (
- b)The first interest payment in respect of the Stock mentioned in sub-article
(2)covering the period from the 12th June, 2014 to the 11th December, 2014 (both days inclusive) shall be made on the 12th day of December, 2014. Redemption of Stock. 8.
(1)The 4.3% Malta Government Stock 2033 (I) shall be redeemed at par on the 1st August, 2033.
(2)The Floating Rate Malta Government Stock 2018 (VII) linked to the six-month Euribor shall be redeemed at par on the 12th December, 2018.