Issuance of Malta Government Stocks – May 2013

The Treasury has just announced details of the new MGS issues. In exercise of the powers conferred by articles 4(1)(a) and 6(1) of the Local Loans (Registered Stock and Securities) Ordinance, the Minister for Finance has issued the following Directive:

An amount of Euro 100,000,000 Malta Government Stocks shall be issued as follows:

(a) 3% Malta Government Stock 2019 (III) Fungibility Issue, and

(b) 4.5% Malta Government Stock 2028 (II) Fungibility Issue, or

(c) any combination of the above two Stocks which shall in the aggregate be Euro 100,000,000.

An application form is available HERE.

The prospectus is available HERE.

In terms of the provisions of Article 12(3) of the ESM Treaty these new Stocks will include the Collective Action Clauses (CACs). Such article provides for the mandatory inclusion of standardised and identical Collective Action Clauses (CACs) in all new eurozone sovereign bonds with maturities over 1 year as from 1st January 2013. For more details regarding the implications of such a clause please contact one of our investment advisors or you may obtain information from the Treasury website at www.treasury.gov.mt under the section reserved for the Debt Management Directorate.

Prices for both stocks above offered for subscription by members of the public shall be established on Thursday 16th May, 2013 at around 4.00 p.m..

Applications for the general public open on Monday 20th May, 2013 at 8.30 a.m and close on Wednesday 22nd May, 2013.

The Issue date for the general public will fall on the 27th May, 2013 as per below:

• 3% Malta Government Stock 2019 (III) F.I. (May’13) r – (For applications submitted by members of the public – maximum € 100,000- Issue date 27th May, 2013 – 1st pro rata interest payment covering period from the 27th May, 2013 to the 21st September, 2013 (both dates inclusive) will be made on the 22nd September, 2013 @ 0.961957%)

• 4.5% Malta Government Stock 2028 (II) F.I. (May) r – (For applications submitted by members of the public – maximum € 100,000- Issue date 27th May, 2013 – 1st pro rata interest payment covering period from the 27th May, 2013 to the 24th October, 2013 (both dates inclusive) will be made on the 25th October, 2013 @ 1.856557%)

The General Public has the possibility of applying in these new issues in multiples of EUR100 and up to a maximum of EUR100,000 (nominal) per application. For applications in excess of EUR100,000 (nominal) a tendering process applies and sealed bids will be accepted until noon on Monday 27th May, 2013.

Investors interested in applying in any of the Malta Government Stock issues are kindly requested to complete Application Forms and submit them to our office by Wednesday 22nd May, 2013 at 15:00.

Should you require any further information please do not hesitate to contact us.