New Issue of Fixed Rate Malta Government Stock by Auction – July 2020

The Accountant General announces the issue of €150,000,000 Malta Government Stock subject to an over-allotment option of an additional amount up to a maximum of €100,000,000 as follows:

• (i)  0.50% Malta Government Stock 2023 (IV); and
• (ii) 0.80% Malta Government Stock 2027 (III); and
• (iii) 1.00% Malta Government Stock 2031 (II) Fungibility Issue (F.I.); or
• (iv) any combination of the above three Stocks which shall in the aggregate be €150,000,000.

Applications in the form of sealed bids (auction) for a minimum of €500,000 and multiples of €100,000 each open on Wednesday 8^th July 2020 at 8.30 a.m. and close at noon (CET) of the same day or earlier at the discretion of the Accountant General.

Bids on the prescribed forms are to be transmitted by e-mail at the e-mail addresses indicated on the application form, or by fax on +356 2596 7210, or deposited in the Treasury’s tender box in Floriana.

The allotment results of each Stock will be determined and announced two hours immediately after the closing time of the auction.

The application forms may be obtained from all members of the Malta Stock Exchange and other authorised Investment Service Providers or downloaded from the Treasury’s website.

The Accountant General will announce indicative pricing guidelines through a press release to be published on Tuesday 7^th July 2020 consisting of an indicative spread over the corresponding euro mid-swap rates, broadly reflecting the secondary market conditions with respect to the 0.50% Malta Government Stock 2023 (IV), 0.80% Malta Government Stock 2027 (III) and the 1.00% Malta Government Stock 2031 (II).

More information on these Stocks can be found in the Offering Circular which together with the General Prospectus and Malta Government Stocks Regulations can be downloaded from the Treasury’s website at www.treasury.gov.mt.