Euro 100,000,000 Malta Government Stocks

L.N. 61 of 2014

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Minister for Finance for the Issue of

Euro 100,000,000 Malta Government Stocks

IN exercise of the powers conferred 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

Finance for the issue of Euro 100,000,000 Malta Government Stocks.

An amount of Euro 100,000,000 Malta Government Stocks

shall be issued as follows

(a)

2% Malta Government Stock 2019 (V) Fungibility

Issue, and

(b)

3.3% Malta Government Stock 2024 (I), and

(c)

45% Malta Government Stock 2032 (II), 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 prospectus.

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

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

(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.

(2) On the 31st July, 2014 after the payment of the first

interest as indicated in article 7(1)(a) and (b), any amount allotted

under the 3.2% Malta Government Stock 2019 (V) F.I. shall be

integrated with the existing issue of this Stock and thereafter shall be

deemed to be one Stock.

(3) On the 12th May, 2014 after the payment of the first

interest as indicated in article 7(2)(a) and (b), any amount allotted

under the 3.3% Malta Government Stock 2024 (I) shall be integrated

and thereafter both shall be deemed to be one Stock.

(4) On the 3rd September, 2014 after the payment of the first

interest as indicated in article 7(3) (a) and (b), any amount allotted

under the 4.45% Malta Government Stock 2032 (II) shall be

integrated and thereafter both shall be deemed to be one Stock.

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

combination of the three Stocks shall in the aggregate be Euro to be raised.

100,000,000. The Accountant General reserves the right to increase

the sum of money to be raised by a maximum of Euro 60,000,000.

(1) Interest at the rate of Euro 1.60 for every Euro 100 Rate of interest

in respect of the 3.2% Malta Government Stock 2019 (V) shall be and

payment.

payable half-yearly in arrears on the 31st day of January and the 31st

day of July in every year for the duration of the Stock

the first pro rata interest payment in respect of the

(a)

allotted amount from applications submitted by members of the

public covering the period from the 3rd day of March, 2014 to

the 30th day of July, 2014 (both dates inclusive), shall be made

on the 31st day of July, 2014;

(b) the first pro rata interest payment in respect of the

allotted amount from bids/applications submitted by

institutional investors covering the period from the 6th day of

March 2014 to the 30th day of July, 2014 (both dates inclusive),

shall be made on the 31st day of July, 2014.

(2) Interest at the rate of Euro 1.65 for every Euro 100 in

respect of the 3.3% Malta Government Stock 2024 (I) shall be

payable half-yearly in arrears on the 12th day of May and the 12th

day of November in every year for the duration of the Stock

the first pro rata interest payment in respect of the

(a)

allotted amount from applications submitted by members of the

public covering the period from the 3rd day of March, 2014 to

the 11th day of May, 2014 (both dates inclusive), shall be made

on the 12th day of May, 2014;

(b) the first pro rata interest payment in respect of the

allotted amount from bids/applications submitted by

institutional investors covering the period from the 6th day of

March 2014 to the 11th day of May, 2014 (both dates inclusive),

shall be made on the 12th day of May, 2014.

(3) Interest at the rate of Euro 2.225 for every Euro 100 in

respect of the 4.45% Malta Government Stock 2032 (II) shall be

payable half-yearly in arrears on the 3rd day of March and the 3rd day

of September in every year for the duration of the Stock

(a) the first interest payment in respect of the allotted

amount from applications submitted by members of the public

covering the period from the 3rd day of March, 2014 to the 2nd

day of September, 2014 (both dates inclusive), shall be made on

the 3rd day of September, 2014;

(b) the first pro rata interest payment in respect of the

allotted amount from bids/applications submitted by

institutional investors covering the period from the 6th day of

March 2014 to the 2nd day of September, 2014 (both dates

inclusive), shall be made on the 3rd day of September, 2014.

(1) The 3.2% Malta Government Stock 2019 (V) shall

be redeemed at par on the 31st July, 2019.

(2) The 3.3% Malta Government Stock 2024 (I) shall be

redeemed at par on the 12th November, 2024.

(3) The 4.45% Malta Government Stock 2032 (II) shall be

redeemed at par on the 3rd September, 2032.

€0.27