DIRECTIVE BY THE MINISTER FOR FINANCE FOR THE ISSUE OF €120,000,000 MALTA GOVERNMENT STOCKS

ISSUE OF EURO €120,000,000

MALTA GOVERNMENT STOCKS

SUBSIDIARY LEGISLATION 161.139

DIRECTIVE BY THE MINISTER FOR FINANCE

FOR THE ISSUE OF €120,000,000 MALTA

GOVERNMENT STOCKS

12th February, 2016

LEGAL NOTICE 52 of 2016.

The title of this directive is Directive by the Minister for

Finance for the issue of Euro 120,000,000 Malta Government

Stocks.

An amount of Euro 120,000,000 Malta Government Stocks

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.

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 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

ISSUE OF EURO €120,000,000

MALTA GOVERNMENT STOCKS

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.The title of this

directive is Directive by the Minister for Finance for the issue of

Euro 120,000,000 Malta Government Stocks.