62+ Malta Government Bonds oversubscribed, Treasury to allocate €100 million

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The Maltese Treasury said on Tuesday the total value of applications for this year’s issue of the 62+ Malta Government Savings Bond received from new applicants and applicants who already hold a 62+ Malta Government Savings Bonds issued in previous years, was just below €134 million.

The authorised sum on issue was of Euro 65 million subject to an over-allotment option of an additional maximum amount of Euro 35 million. The Treasury said that it will exercise its over-allotment option in full such that the aggregate amount to be allocated will be increased up to a maximum amount of €100 million.  

In terms of article 12 (a) of the Prospectus, all applications received from new eligible applicants known as Category A applicants will be satisfied and allocated in full. The remaining amount available for allocation will be allotted among Category ‘B’ applicants who already hold a 62+ Malta Government Savings Bond/s issued in previous years; these will be allotted in accordance with an allocation policy to be announced by the Accountant General in due course.

The details of the allotment policy in respect of Category ‘B’ applicants will be communicated through a Press Release and published on the Treasury’s website immediately after the vetting of applications for compliance with the provisions of the Prospectus is finalised.

Refunds of unallocated monies will be effected before the issue of relevant Registration Advice from the Malta Stock Exchange will be paid by credit transfer through the Single Euro Payments Area (SEPA) scheme in the International Bank Account Number (IBAN) indicated in the application form. No interest is due on any unallocated amounts for the period until such amounts are refunded. 

As stipulated in the Prospectus, the interest in the 62+ Malta Government Savings Bond – Issue 2021 starts accruing from Friday 15th October 2021.

via DOI

Photo via Pixabay – Christopher J Zammit

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