Euro 40,000,000 Malta Government Stocks

L.N. 381 of 2014

BUDGET MEASURES IMPLEMENTATION (2014) ACT

(CAP. 531)

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Minister for Finance for the Issue of

Euro 40,000,000 Malta Government Stocks

IN exercise of the powers conferred by article 4 of the Budget

Measures Implementation (2014) Act and by articles 4(1)(a) and 6(1)

of the Local Loans (Registered Stock and Securities) Ordinance, the

Minister for Finance has issued the following Directive

The title of this directive is Directive by the Minister for Title.

Finance for the issue of Euro 40,000,000 Malta Government Stocks.

An amount of Euro 40,000,000 Malta Government Stocks Issuing of

Stock.

shall be issued as follows

(a)

1% Malta Government Stock 2034 (I) Fungibility

Issue, and

(b) Floating Rate Malta Government Stock 2020 (VI)

linked to the six-month Euribor, or

(c)

any combination of the above two Stocks which

shall in the aggregate be Euro 40,000,000.

3. These Stocks shall be issued as set out in the relative Mode of issuing

Stocks.

prospectus regulating the issuance of

(a) 4.1% Malta Government Stock 2034 (I) Fungibility

Issue; and

(b) Floating Rate Malta Government Stock 2020 (VI)

linked to the six-month Euribor.

4. All persons and, or entities are eligible to apply for these Allotment

Stocks. Allotment will be applied as set out in the relative prospectus. Policy.

(1) In terms of the Financial Markets Act, when these Trading on the

Stocks have been allotted, an application shall be made for the Malta

Exchange.

respective Stock to be placed on the official list and for trading on the Cap. 345.

Malta Stock Exchange.

(2) On the 18th April, 2015 after the payment of the first

interest as indicated in article 7(1), any amount allotted under the

4.1% Malta Government Stock 2034 (I) F.I. shall be integrated with

the existing issue of this Stock and thereafter shall be deemed to be

one Stock.

The sum of money to be raised by either Stock, or of any

combination of the two Stocks shall in the aggregate be Euro

40,000,000. The Accountant General reserves the right to increase the

sum of money to be raised by a maximum of Euro 35,000,000.

(1) Interest at the rate of Euro 2.05 for every Euro 100

in respect of the 4.1% Malta Government Stock 2034 (I) 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 pro rata interest payment covering the period

from the 29th day of October, 2014 to the 17th day of April, 2015

(both dates inclusive), shall be made on the 18th day of April, 2015.

(2) Interest on the Floating Rate Malta Government Stock

2020 (VI) linked to the six-month Euribor shall be paid at the rate

linked to the six-month Euribor issued by the European Money

Markets Institute (EMMI) in effect on the applicable interest

determination date, plus a spread of 75 basis points (bps) calculated

on Day Count Fraction (Actual/360) for every Euro 100. The spread

of 75 bps is fixed and applicable until the maturity of the Stock.

(3) (a)

Interest on the Floating Rate Malta Government

Stock 2020 (VI) linked to the six-month Euribor shall be payable half

yearly in arrears on the 29th of April and the 29th of October in every

year for the duration of the Stock.

(b) The first interest payment in respect of the Stock

mentioned in sub-article (2) covering the period from the 29th

October, 2014 to the 28th April, 2015 (both days inclusive) shall be

made on the 29th day of April, 2015.

(1) The 4.1% Malta Government Stock 2034 (I) shall be

redeemed at par on the 18th October, 2034.

(2) The Floating Rate Malta Government Stock 2020 (VI)

linked to the six-month Euribor shall be redeemed at par on the 29th

October, 2020.

€0.18