MT
DIRECTIVE BY THE MINISTER OF FINANCE, ECONOMY AND INVESTMENT FOR THE ISSUE OF EURO 50,000,000
Table of Provisions (9)
Statutory Text (9 Articles)
ISSUE OF EURO 50,000,000
MALTA GOVERNMENT STOCKS
SUBSIDIARY LEGISLATION 161.128
DIRECTIVE BY THE MINISTER OF FINANCE,
ECONOMY AND INVESTMENT FOR
THE ISSUE OF EURO 50,000,000
MALTA GOVERNMENT STOCKS
17th August, 2012
LEGAL NOTICE 273 of 2012.
The title of this directive is Directive by the Minister of
Finance, the Economy and Investment for the issue of Euro
50,000,000 Malta Government Stocks.
An amount of Euro 50,000,000 Malta Government Stocks
shall be issued as follows
(a) Floating Rate Malta Government Stock 2017 (V)
linked to the six-month Euribor, and
(b) Floating Rate Malta Government Stock 2018 (IV)
linked to the six-month Euribor, or
(c) any combination of the above two Stocks which shall
in the aggregate be Euro 50,000,000.
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.
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.
The sum of money to be raised by either Stock, or of any
combination of the two Stocks shall in the aggregate be Euro
50,000,000. The Accountant General reserves the right to increase
the sum of money to be raised by a maximum of Euro 25,000,000.
(1) Interest on the Floating Rate Malta Government Stock
2017 (V) linked to the six-month Euribor shall be paid at the rate
linked to the six-month Euribor in effect on the applicable interest
determination date, plus a spread of 90 basis points (bps) calculated
on Day Count Fraction (Actual/360) for every Euro 100. The
spread of 90bps is fixed and applicable until the maturity of the
Stock.
(2) Interest on the Floating Rate Malta Government Stock 2018
(IV) linked to the six-month Euribor shall be paid at the rate linked
to the six-month Euribor in effect on the applicable interest
determination date, plus a spread of 110 basis points (bps)
calculated on Day Count Fraction (Actual/360) for every Euro 100.
The spread of 110bps is fixed and applicable until the maturity of
ISSUE OF EURO 50,000,000
MALTA GOVERNMENT STOCKS
the Stock.
(3) Interest on the Floating Rate Malta Government Stock 2017
(V) linked to the six-month Euribor shall be payable half yearly in
arrears on the 5th of March and 5th of September in every year for
the duration of the Stock.
(4) Interest on the Floating Rate Malta Government Stock 2018
(IV) linked to the six-month Euribor shall be payable half yearly in
arrears on the 5th of March and 5th of September in every year for
the duration of the Stock.
(5) The first interest payment in respect both Stocks mentioned
in sub-articles (1) and (2) covering the period from the 5th
September, 2012 to the 4th March, 2013 (both days inclusive) shall
be made on the 5th day of March, 2013.
(1) The Floating Rate Malta Government Stock 2017 (V)
linked to the six-month Euribor shall be redeemed at par on the 5th
September, 2017.
(2) The Floating Rate Malta Government Stock 2018 (IV)
linked to the six-month Euribor shall be redeemed at par on the 5th
September, 2018.