€200 million Malta Government stock auction announced

On Tuesday Government announced it will be auctioning off €200 million in stock, with the option of an additional €150 million in the event of over subscription:

The Accountant General announces the issue of €200,000,000 Malta Government Stock in any one or any combination of the following two stocks:

• 3.40 per cent Malta Government Stock 2027 (VI) Fungibility Issue (F.I.); and
• 3.70 per cent Malta Government Stock 2030 (II).

Applications in the form of sealed bids (auction) for a minimum of €500,000 and multiples of €100,000 each open on Friday 25th November 2022 at 8.30 a.m. and close at noon (CET) of the same day.

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 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 for each stock through a press release to be published on Thursday, 24^th November 2022.  These consist of an indicative spread over the corresponding euro mid-swap rate, broadly reflecting the secondary market conditions with respect to the 3.40 per cent Malta Government Stock 2027 (VI) and the 3.70 per cent Malta Government Stock 2030 (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.