ISSUE OF EURO 100,000 MALTA GOVERNMENT STOCKS [ S.L.161.84 1 SUBSIDIARY LEGISLATION 161.84 DIRECTIVE BY THE MINISTER OF FINANCE, ECONOMY AND INVESTMENT FOR THE ISSUE OF EURO 100,000,000 MALTA GOVERNMENT STOCKS 2nd February, 2010 LEGAL NOTICE 62 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 100,000,000 Malta Government Stocks. Citation.
- An amount of Euro 100,000,000 Malta Government Stocks shall be issued as follows: Issuing of Stock. (a) 3.75% Malta Government Stock 2015(VI), and (b) 4.6% Malta Government Stock 2020 (II) Fungibility issue, and (c) Floating Rate Malta Government Stock 2013 (V) linked to the six
(6)month Euribor, or (
- d)any combination of the above three 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)3.75% Malta Government Stock 2015(VI) and 4.6% Malta Government Stock 2020 (II) Fungibility issue; and (
- b)Floating Rate Malta Government Stock 2013 (V) linked to six
(6)month Euribor. 4. All persons and, or entities are eligible to apply for these Stocks. Allo tm ent will be applied as set o ut in the relativ e 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 25th April, 2010 after the payment of the first dividend, any amount allotted under 4.6% Malta Government Stock 2020 (II) 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 c o m b i n a t i o n o f t h e t h r e e St o c k s s h a l l i n t h e a g g r e g at e b e Euro100,000,
- The Accountant General reserves the right to increase the sum of money to be raised by a maximum of Euro 50,000,
- Sum of money to be raised. 2 [ S.L.161.84 Rate of interest and dates of payment. ISSUE OF EURO 100,000 MALTA GOVERNMENT STOCKS 7.
(1)Interest at the rate of Euro 1.875 for every Euro 100 in respect of the 3.75% Malta Government Stock 2015 (VI) shall be payable half-yearly in arrears on the 3rd day of June and the 3rd day of December in every year for the duration of the Stock. The first pro rata payment covering the period from the 24th day of February, 2010 to the 2nd day of June, 2010 (both dates inclusive), shall be made on the 3rd day of June, 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 p ro rata p aym en t cov erin g th e p er io d f r om the 2 4 th d ay o f February, 2010 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 45 basis points (bps) calculated on Day Count Fraction (Actual/360) for every Euro
- The spread of 45bps is fixed and applicable until the maturity of the Stock. The interest rate (six-month Euribor plus spread of 45bps) is subject to a maximum interest rate capped at 1.925% every six months and in no event shall the minimum interest rate be less than 0.675% every six months. Interest shall be payable half yearly in arrears on the 24th of February and 24th of August in every year for the duration of the Stock. The first payment covering the period from the 24th February, 2010 to the 23rd August, 2010 (both days inclusive) shall be made on the 24th day of August,
- Redemption of Stock. 8.
(1)The 3.75% Malta Government Stock 2015 (VI) shall be redeemed at par on the 3rd December, 2015.
(2)The 4.6% Malta Government Stock 2020 (II) shall be redeemed at par on the 25th April, 2020.
(3)The Floating Rate Malta Government Stock 2013 (V) linked to the six
(6)month Euribor shall be redeemed at par on the 24th February, 2013.