Euro 130,000,000 Malta Government Stocks

L.N. 44 of 2017

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Minister for Finance for the Issue of

Euro 130,000,000 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 130,000,000 Malta Government Stocks.

An amount of Euro 130,000,000 Malta Government Stocks

shall be issued as follows

(a)

1.4% Malta Government Stock 2023 (III), and

(b)

1.5% Malta Government Stock 2027 (I), and

(c)

2.2% Malta Government Stock 2035 (I), or

(d) any combination of the above three Stocks which

shall in the aggregate be Euro 130,000,000.

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

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 11th May, 2017 after the payment of the first

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

under the 1.4% Malta Government Stock 2023 (III) shall be

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

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

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

under the 1.5% Malta Government Stock 2027 (I) shall be integrated

and thereafter both shall be deemed to be one Stock.

(4) On the 24th May, 2017 after the payment of the first

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

under the 2.2% Malta Government Stock 2035 (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 Sum of money

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

130,000,000. The Accountant General reserves the right to increase

the sum of money to be raised up to a maximum of Euro 90,000,000.

(1) Interest at the rate of Euro 0.70 for every Euro 100 Rate of interest

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

payment.

payable half-yearly in arrears on the 11th day of May and the 11th 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 20th day of February, 2017

to the 10th day of May, 2017 (both dates inclusive), shall be

made on the 11th day of May, 2017;

(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 22nd day of

February, 2017 to the 10th day of May, 2017 (both dates

inclusive), shall be made on the 11th day of May, 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 15th day of June and the 15th

day of December 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 20th day of February, 2017

to the 14th day of June, 2017 (both dates inclusive), shall be

made on the 15th day of June, 2017;

(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 22nd day of

February, 2017 to the 14th day of June, 2017 (both dates

inclusive), shall be made on the 15th day of June, 2017.

(3) Interest at the rate of Euro 1.10 for every Euro 100 in

respect of the 2.2% Malta Government Stock 2035 (I) shall be

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

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 20th day of February, 2017

to the 23rd day of May, 2017 (both dates inclusive), shall be

made on the 24th day of May, 2017;

(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 22nd day of

February, 2017 to the 23rd day of May, 2017 (both dates

inclusive), shall be made on the 24th day of May, 2017.

(1) The 1.4% Malta Government Stock 2023 (III) shall

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

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

redeemed at par on the 15th June, 2027.

(3) The 2.2% Malta Government Stock 2035 (I) shall be

redeemed at par on the 24th November, 2035.

€0.27