62+ Malta Government Savings Bond – July 2020

Results, Allocation Policy, and Issue of Refunds

The Accountant General announces that by the closing date at 5.00 p.m. on Thursday 16^th July 2020, the Treasury received 13,043 applications having a total nominal value of €109,723,900 against the authorised sum on issue of €60 million, subject to an over-allotment option of an additional amount up to €35 million, in the event the amount on issue is oversubscribed.

The Treasury is exercising the over-allotment option referred to in article 11 of the Prospectus in full, such that the aggregate amount to be allocated will be increased up to a maximum amount of €95 million.

The table below shows the subscriptions by (i) new applicants (Category ‘A’) and (ii) existing holders (Category ‘B’) in any of the previous issuances of the 62+ Malta Government Savings Bonds:

62+ Malta Government Savings Bond – Issue 2020	Category ‘A’ *Applicants	Category ‘B’ **Applicants	Total
Number of applications received	2,909	10,134	13,043
Total nominal amount received	€25,308,500	€84,415,400	€109,723,900

*Category ‘A’ applicants: new eligible applicants born in the year 1958 and individuals born before the year 1958 who were eligible to apply in past issuances of the 62+ Malta Government Savings Bond but did not apply;

**Category ‘B’ applicants: all individuals who participated in the past issuances of the 62+ Malta Government Saving Bond held in the past three years and whose name appeared on the register at the close of business of Friday 5^th June 2020.

As stipulated in article 12 (a) of the prospectus, preference shall be given to new applicants classified under Category ‘A’. In this regard, these applicants shall be allotted the amount they applied for in full. After allocating the bonds to Category ‘A’ applicants, the Treasury is allotting the remaining amount out of the €95,000,000 amongst Category ‘B’ applicants.  The allotment of bonds for these applicants shall be as follows;

• applicants subscribing up to and including €7,700 will be met in full;
• applicants subscribing above €7,700 will be allotted a minimum of €7,700 per applicant plus an additional 4% of the remaining unallocated balance per applicant rounded up to the nearest €100.  By way of example the table below shows the amount of bonds that would be allocated to Category ‘B’ applicants for different amounts applied for, based on the allocation policy as described above.

CAT. ‘B’	€	€	€	€	€	€	€	€	€	€
Amount applied	10,000	9,000	8,000	7,000	6,000	5,000	4,000	3,000	2,000	1,000
Amount allotted	7,800	7,800	7,800	7,000	6,000	5,000	4,000	3,000	2,000	1,000

In this regard, the Treasury is allotting the amount of € 25,308,500 among the new applicants (Category ‘A’) and €69,488,300 among the applicants who are already holders in any one of the previous issues of the 62+ Malta Government Savings Bonds (Category ‘B’).  The total amount to be allocated between the two categories shall be €94,796,800.

As stipulated in the prospectus, interest on the amount allocated commenced accruing as from 21^st July 2020. Additional information can be found on the issuance results of the 62 + Malta Government Savings Bond – Issue 2020 published in the Treasury’s website at www.treasury.gov.mt.

Refunds

It is planned that refunds amounting to €14,927,100 of unallocated monies of Category ‘B’ applicants will be effected on Monday 3^rd August 2020 by credit transfer through the SEPA scheme in the IBAN nominated by the applicant in the application form.