The amount of issuance of Malta Government Stock for the financial year 2015 has been set not to exceed €500 million.

The Treasury said this morning it was planned that the issuance programme of MGS for 2015 would finance the central government's borrowing requirements including:

• The redemption of six MGS issues amounting €349,228,821, due to mature this year

• Financing of central government deficit estimated at €148.6 million; and

• Effecting changes in the central government debt portfolio as and when required in line with the government’s debt management policies.

The issuance programme would be covered by the issue of two different types of securities –

• The conventional fixed rate MGS, and

• The floating rate MGS (FR Bond) linked to the six month Euribor.

The Treasury said it intended to fund the financing requirements for 2015 over three to four issues, the first in February.

 

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