Government announces €100m stocks issue
The government will issue €100 million in stocks on Monday, with an over-allotment option of an additional sum of €20 million, the Accountant General said today.
The issue will be as follows:
(i) 3.6% Malta Government Stock 2013 (IV) Fungibility Issue, or
(ii) 5.2% Malta Government Stock 2020 (I) Fungibility Issue, or of
(iii) Any combination of the above two Stocks shall in the aggregate be €100,000,000
The price for each stock shall be established three days prior to opening of the applications.
The issue closes at 5 p.m. on June 24 for applications by any single and/or joint applications which in the aggregate do not exceed €100,000 per person, and at noon on June 26 for applications in the form of sealed bids (auction). The issues can close earlier if there is over subscription.
The allotment results of each stock to applicants whose applicants are in the form of sealed bids (auction) will be determined and announced within two hours immediately after the closing time of applications by auction.
Application forms may be obtained from all members of the Malta Stock Exchange and other authorised Investment Service Providers. Application forms may also be downloaded from Treasury website at www.treasury.gov.mt
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A Cassar
Jun 16th 2009, 22:05
@ ALL below who comment without knowing the facts
There is a previous Government Bond which is going to redeem beginning of July, it was paying 7% interest. So put your mind at rest that this is not new debt. Furthermore the govt will be paying less interest on this new issue, 3.6% / 5.2% instead of 7% (check at www.centralbankmalta.com)
It will be better for some people to check the facts before commenting with political blindness
Galea.L
Jun 16th 2009, 17:42
henry scerri
It was Mitt Miljun Lira, equal to 233 million euros.
More debt to pay debt.
That's what happened to the bankrupt banks.
They kept lending to people who couldn't pay at an increasing level of interests.
Compare those taking loans who couldn't pay back with the present government.
Always getting new loans to pay the previous loans.
Nigel Lawrence
Jun 16th 2009, 16:00
So the government debt jumps yet another 100 mil. Good work lads!
P. Schembri
Jun 16th 2009, 15:40
As the Maltese saying goes:"BIL-GUH IL-GAWWI!"
henry scerri
Jun 16th 2009, 15:24
Mitt miljun! I can still hear it echoing in my ears.
Had we joined the EU, we would have received Euro 100 million and we wouldnt have to borrow it.
Erm, wait a minute, we did join!!!