'Positive reaction' to stocks issue

The Treasury said this afternoon that therre was a positive response by and institutional investors to the latest Government Stock issues.

By closing date (noon, 30^th May 2008), the Treasury had received 2,089 applications having a total value exceeding €109 million against the authorised sum on issue of €100 million (subject to an over-allotment option for an additional amount of €50 million).

Allotment of the two stocks on issue will be as follows:

• MGS 5.00% 2021(I) issued at 98.99 – €45,656,800 and
• MGS 5.10% 2014 (III) issued at 101.25 – €61,195,100.

The Treasury said that all subscriptions by the public, amounting to €26,851,900 will be accepted in full while the offers by the institutional investors will be allotted in the order of the bid price offered.