40,000,000 Malta Government Stocks

L.N. 196 of 2017

BUDGET MEASURES IMPLEMENTATION ACT (2017)

(CAP. 572)

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 Act (2017) 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 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) 1.4% Malta Government Stock 2023 (III) Fungibility

Issue, and

(b) 1.5% Malta Government Stock 2027 (I) Fungibility Issue,

or

(c) any combination of the above two Stocks which shall in

the aggregate be Euro 40,000,000.

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. Cap.

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

Malta Stock Exchange.

(2) On the 11 th November, 2017 after the payment of the first

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

1.4% Malta Government Stock 2023 (III) F.I. shall be integrated with

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

one Stock.

(3) On the 15th December, 2017 after the payment of the first

interest as indicated in article 7 (2), any amount allotted under the

1.5% Malta Government Stock 2027 (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 up to a maximum of Euro 35,000,000.

(1)

Interest at the rate of Euro 0.70 for every Euro

100 in respect of the 1.4% Malta Government Stock 2023 (III) shall

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

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

The first pro rata interest payment covering the period

from the 4 th day of August, 2017 to the 10 th day of November, 2017

(both dates inclusive), shall be made on the 11 th day of November,

2017. (2) Interest at the rate of Euro 0.75 for every Euro 100 in

respect of the 1.5% Malta Government Stock 2027 (I) shall be

payable half-yearly in arrears on the 15 th day of June and the 15 th day

of December in every year for the duration of the Stock.

The first pro rata interest payment covering the period

from the 4 th day of August, 2017 to the 14 th day of December, 2017

(both dates inclusive), shall be made on the 15 th day of December,

2017.

(1)

The 1.4% Malta Government Stock 2023 (III) shall

be redeemed at par on the 11 th November, 2023.

(2) The 1.5% Malta Government Stock 2027 (I) shall be

redeemed at par on the 15 th June, 2027.

€0.18