ISSUE OF EURO 80,000 MALTA GOVERNMENT STOCKS [ S.L.161.83 1 SUBSIDIARY LEGISLATION 161.83 DIRECTIVE BY THE MINISTER OF FINANCE, ECONOMY AND INVESTMENT FOR THE ISSUE OF EURO 80,000,000 MALTA GOVERNMENT STOCKS 30th October, 2009 LEGAL NOTICE 316 of
- The title of this Directive is the Directive by the Minister o f F inan ce, E co no m y an d I n vestm en t f o r th e iss ue o f Eu r o 80,000,000 Malta Government Stocks. Citation.
- An amount of Euro 80,000,000 Malta Government Stocks shall be issued as follows: Issuing of Stock. (a) 3.6% Malta Government Stock 2013(IV) Fungibility issue, and (b) 4.6% Malta Government Stock 2020 (II), and (c) Floating Rate Euribor Malta Government Stock 2015 (V) linked to the six
(6)month Euribor, or (
- d)any combination of the above three Stocks which shall in the aggregate be Euro 80,000,000. 3. These Stocks shall be issued as set out in the relative prospectus regulating the issuance of: Mode of issuing Stocks. (
- a)3.6% Malta Government Stock 2013(IV) Fungibility issue and 4.6% Malta Government Stock 2020 (II); and (
- b)Floating Rate Euribor Malta Government Stock 2015 (V) linked to six
(6)month Euribor. 4. All persons and, or entities are eligible to apply for these Stocks. Allotm en t will be app lied as s et o ut in the r elative prospectus. Allotment policy. 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. Trading on the Malta Stock Exchange. Cap. 345.
(2)On the 18th April, 2010, after the payment of the first dividend, any amount allotted under 3.6% Malta Government Stock 2013 (IV) FI shall be integrated with the existing issue of this Stock and shall thereafter both be deemed to be one Stock.
- The sum of money to be raised by either Stock, or of any combination of the three Stocks shall in the aggregate be Euro 80,000,
- The Accountant General reserves the right to increase the sum of money to be raised by a maximum of Euro 20,000,
- Sum of money to be raised. 2 [ S.L.161.83 Rate of interest and dates of payment. ISSUE OF EURO 80,000 MALTA GOVERNMENT STOCKS 7.
(1)Interest at the rate of Euro 1.80 for every Euro 100 in respect of the 3.6% Malta Government Stock 2013 (IV) shall be payable half-yearly in arrears on the 18th day of April and the 18th day of October in every year for the duration of the Stock. The first p ro -r ata paym en t co ver ing th e p erio d f r om the 1 8th day of November, 20 09 to the 1 7th d ay of April, 201 0 ( both dates inclusive), shall be made on the 18th day of April, 2010.
(2)Interest at the rate of Euro 2.3 for every Euro 100 in respect of the 4.6% Malta Government Stock 2020 (II) shall be payable half-yearly in arrears on the 25th day of April and the 25th day of October in every year for the duration of the Stock. The first prorata payment covering the period from the 18th day of November, 2009 to the 24th day of April, 2010 (both dates inclusive) shall be made on the 25th day of April, 2010.
(3)Interest shall be paid at the floating rate linked to the six
(6)month Euribor plus a spread of 80 basis points (bps) calculated on Day Count Fraction (Actual/360) for every Euro
- The spread of 80bps is fixed and applicable until the maturity of the Stock. The interest rate (six month Euribor plus spread of 80bps) is subject to a maximum interest rate capped at 2.61% every six months and in no event shall the minimum interest rate be less than 0.85% every six months. Interest shall be payable half yearly in arrears on the 25th of April and 25th of October in every year for the duration of the Stock. The first pro-rata payment covering the period from the 18th November, 2009 to the 24th April, 2010 (both days inclusive) shall be made on the 25th day of April,
- Redemption of Stock. 8.
(1)The 3.6% Malta Government Stock 2013 (IV) shall be redeemed at par on the 18th October, 2013.
(2)The 4.6% Malta Government Stock 2020 (II) shall be redeemed at par on the 25th April, 2020.
(3)The Floating Rate Euribor Malta Government Stock 2015 (V) linked to the six
(6)month Euribor shall be redeemed at par on the 25th October, 2015.