Malta Government Stock issue attracts €852 million in applications

The Treasury Department has received around €852 million in applications for its August 2026 Malta Government Stock (MGS) issue, significantly exceeding the €300 million initially authorised.

The issue, which comprises two Government stocks, includes an over-allotment option allowing the Treasury to increase the amount issued by up to €200 million. Following the strong demand, the Treasury confirmed that it will exercise its right to increase the authorised amount.

Retail investors submitted applications worth around €162 million by the closing deadline on Wednesday, 29th July. These applications, made through the non-competitive portion of the issue at pre-announced fixed prices, have been accepted in full.

Meanwhile, wholesale investors submitted 41 bids worth a combined €689.5 million through the competitive auction, which closed at noon on Friday.

Of these, 29 bids worth €506.5 million were submitted for the 3.80 per cent Malta Government Stock 2036 (IV). Nine bids were allotted, with one partially accepted, for a total nominal amount of €155.5 million.

The 4.25 per cent Malta Government Stock 2046 (II) attracted 12 bids worth €183 million. Ten bids were accepted, representing a nominal amount of €181.5 million.

Overall, wholesale investors were allotted €337 million from the €689.5 million sought. Together with the roughly €162 million in retail applications accepted in full, this brings the total allocation to around €499 million, close to the maximum €500 million available after the over-allotment option.

The Treasury said detailed allotment figures for each stock relating to retail investors will be published once applications have been vetted for compliance with the General Prospectus and Offering Circular.