DIRECTIVE BY THE MINISTER FOR FINANCE FOR THE ISSUE OF EURO 100,000,000 MALTA GOVERNMENT STOCKS

ISSUE OF EURO 100,000,000

MALTA GOVERNMENT STOCKS

SUBSIDIARY LEGISLATION 161.132

DIRECTIVE BY THE MINISTER FOR FINANCE

FOR THE ISSUE OF EURO 100,000,000

MALTA GOVERNMENT STOCKS

23rd May, 2014

LEGAL NOTICE 176 of 2014.

The title of this directive is Directive by the Minister for

Finance for the issue of Euro 100,000,000 Malta Government

Stocks.

An amount of Euro 100,000,000 Malta Government Stocks

shall be issued as follows

(a) 4.3% Malta Government Stock 2033 (I), and

(b) Floating Rate Malta Government Stock 2018 (VII)

linked to the six-month Euribor, or

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

in the aggregate be Euro 100,000,000.

These Stocks shall be issued as set out in the relative

prospectus regulating the issuance of

(a) 4.3% Malta Government Stock 2033 (I); and

(b) Floating Rate Malta Government Stock 2018 (VII)

linked to the six-month Euribor.

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

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

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 1st August, 2014 after the payment of the first

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

u nd e r t h e 4 . 3 % M a l t a Go v e r n m e n t St o c k 2 0 3 3 ( I ) s h a l l b e

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

100,000,000. The Accountant General reserves the right to increase

the sum of money to be raised by a maximum of Euro 80,000,000.

(1) Interest at the rate of Euro 2.15 for every Euro 100 in

respect of the 4.3% Malta Government Stock 2033 (I) shall be

payable half-yearly in arrears on the 1st day of February and the 1st

day of August 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

ISSUE OF EURO 100,000,000

MALTA GOVERNMENT STOCKS

members of the public covering the period from the

9th day of June, 2014 to the 31st day of July, 2014

(both dates inclusive), shall be made on the 1st day of

August, 2014;

(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

12th day of June 2014 to the 31st day of July, 2014

(both dates inclusive), shall be made on the 1st day of

August, 2014.

(2) Interest on the Floating Rate Malta Government Stock 2018

(VII) linked to the six-month Euribor shall be paid at the rate linked

to the six-month Euribor issued by Euribor-EBF 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.

(3)

(a) Interest on the Floating Rate Malta Government Stock

2018 (VII) linked to the six-month Euribor shall be

payable half yearly in arrears on the 12th of June and

12th of December in every year for the duration of the

Stock.

(b) The first interest payment in respect of the Stock

mentioned in sub-article (2) covering the period from

the 12th June, 2014 to the 11th December, 2014 (both

days inclusive) shall be made on the 12th day of

December, 2014.

(1) The 4.3% Malta Government Stock 2033 (I) shall be

redeemed at par on the 1st August, 2033.

(2) The Floating Rate Malta Government Stock 2018 (VII)

linked to the six-month Euribor shall be redeemed at par on the

12th December, 2018.