Euro 120,000,000 Malta Government Stocks

L.N. 52 of 2016

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 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)

1.5% Malta Government Stock 2022 (IV), and

(b)

2.5% Malta Government Stock 2036 (I), 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 11th July, 2016 after the payment of the first

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

under the 1.5% Malta Government Stock 2022 (IV) shall be

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

(3) On the 17th May, 2016 after the payment of the first

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

under the 2.5% Malta Government Stock 2036 (I) 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

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 80,000,000.

(1) Interest at the rate of Euro 0.75 for every Euro 100

in respect of the 1.5% Malta Government Stock 2022 (IV) shall be

payable half-yearly in arrears on the 11th day of January and the 11th

day of July 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 29th day of February, 2016

to the 10th day of July, 2016 (both dates inclusive), shall be

made on the 11th day of July, 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 2nd day of

March, 2016 to the 10th day of July, 2016 (both dates inclusive),

shall be made on the 11th day of July, 2016.

(2) Interest at the rate of Euro 1.25 for every Euro 100 in

respect of the 2.5% Malta Government Stock 2036 (I) shall be

payable half-yearly in arrears on the 17th day of May and the 17th

day of November 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 29th day of February, 2016

to the 16th day of May, 2016 (both dates inclusive), shall be

made on the 17th day of May, 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 2nd day of

March, 2016 to the 16th day of May, 2016 (both dates

inclusive), shall be made on the 17th day of May, 2016.

(1) The 1.5% Malta Government Stock 2022 (IV) shall

be redeemed at par on the 11th July 2022.

(2) The 2.5% Malta Government Stock 2036 (I) shall be

redeemed at par on the 17th November, 2036.

€0.18