Euro 120,000,000 Malta Government Stocks

L.N. 305 of 2015

BUDGET MEASURES IMPLEMENTATION ACT (2015)

(CAP. 541)

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Minister for Finance for the Issue of

Euro 120,000,000 Malta Government Stocks

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

Measures Implementation Act (2015) 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 Citation.

Finance for the issue of Euro 120,000,000 Malta Government Stocks.

An amount of Euro 120,000,000 Malta Government Stocks Issuing of

Stock.

shall be issued as follows

(a)

2% Malta Government Stock 2020 (V) Fungibility

Issue, and

(b)

2.3% Malta Government Stock 2029 (II) Fungibility

Issue, or

(c)

any combination of the above two Stocks which

shall in the aggregate be Euro 120,000,000.

These Stocks shall be issued as set out in the prospectus.

Mode of issuing

Stocks.

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

Policy.

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

(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 26th March, 2016 after the payment of the first

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

under the 2% Malta Government Stock 2020 (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 24th January, 2016 after the payment of the first

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

under the 2.3% Malta Government Stock 2029 (II) 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

120,000,000. The Accountant General reserves the right to increase

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

(1) Interest at the rate of Euro 1.00 for every Euro 100

in respect of the 2% Malta Government Stock 2020 (V) shall be

payable half-yearly in arrears on the 26th day of March and the 26th

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

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

allotted amount from applications submitted by members of the

public covering the period from the 12th day of October, 2015

to the 25th day of March, 2016 (both dates inclusive), shall be

made on the 26th day of March, 2016;

(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 14th day of

October 2015 to the 25th day of March, 2016 (both dates

inclusive), shall be made on the 26th day of March, 2016.

(2) Interest at the rate of Euro 1.15 for every Euro 100 in

respect of the 2.3% Malta Government Stock 2029 (II) shall be

payable half-yearly in arrears on the 24th day of January and the 24th

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 12th day of October, 2015

to the 23rd day of January, 2016 (both dates inclusive), shall be

made on the 24th day of January, 2016;

(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 14th day of

October 2015 to the 23rd day of January, 2016 (both dates

inclusive), shall be made on the 24th day of January, 2016.

(1) The 2% Malta Government Stock 2020 (V) shall be

redeemed at par on the 26th September, 2020.

(2) The 2.3% Malta Government Stock 2029 (II) shall be

redeemed at par on the 24th July, 2029.

€0.18