With reference to the press release issued on Friday 20th October 2017 announcing the closure and the subscription amounts in the 62+ Malta Government Savings Bond (October 2017 issue), the Accountant General is hereby announcing the allocation policy with respect to this issue.

The Treasury received (i) 3,974 applications from new applicants (Cat. A) amounting to a nominal amount of €31,194,800 and (ii) 8,954 applications amounting to a nominal amount of €33,115,800 from applicants who applied in the September 2017 issue but whose application was not accepted in full (Cat. B).  Applications received from both categories of applicants amounted to a total nominal amount of €64,310,600.

The allotment in the 62+ Malta Government Savings Bond (October 2017 issue) is as follows: –

First (1st) Stage of the Allocation Policy – Element No. 1

In terms of Article 10 (a) and (b) of the prospectus published on the 3rd October 2017, the new applicants will be subject to the same allocation policy applied for the applicants of the first issuance of the 62+ Malta Government Savings Bond held in September 2017. In this regard,

(1) new applicants subscribing up to and including €5,000 will be met in full;

(2) new applicants subscribing above €5,000 will receive a minimum of €5,000 per applicant plus an additional 22% of the remaining unallocated balance per applicant rounded up to the nearest €100.

In this regard, after implementing the first stage of the allocation policy, the Treasury is allotting the amount of €21,644,100 out of the €30,000,000 on offer.

Second (2nd) Stage of Allocation Policy – Element No. 2

After the application of the first stage of the allocation policy, the remaining unallocated balance of €8,355,900 will be allotted in terms of article 10 (d) of the prospectus.  The applicants of the October 2017 issue (Cat. A and Cat. B) whose application was not accepted in full both in the September as well as in the October issuance, will be allotted an additional amount in accordance with the following allocation policy: –

1.     Cat. A applicants (New applicants):

(a)    unallocated amounts up to and including €600 per applicant will be met in full; and

(b)   unallocated amounts above €600 per applicant will receive a minimum of €600 plus an additional 3% of the remaining unallocated balance per applicant rounded up to the nearest €100;

 

2.         Cat. B applicants (September 2017 applicants whose application was not accepted in full and re-applied with the whole unallocated balance in the October 2017 issue):

(a)    applicants who re-applied with an amount up to and including €600 will be met in full; and

(b)   applicants who re-applied with an amount above €600 will receive a minimum of €600 plus an additional amount of 3% of the remaining unallocated balance rounded up to the nearest €100.

By means of the second element of the allocation policy, the Treasury is allotting the amount of €8,099,800, of which €1,873,100 was allocated to Cat. A applicants and €6,226,700 to Cat. B applicants.

After considering the two elements of the allocation policy, the Treasury is allotting the amount of €29,743,900 out of the €30,000,000 on offer.

As stipulated in the prospectus, interest on the 62+ Malta Government Savings Bond (October 2017 issue) commenced accruing as from 20th October 2017.  Additional information can be found on the Issuance Results of the 62+ Malta Government Savings Bond published on the Treasury Department website at www.treasury.gov.mt.

Refunds

Refunds amounting to €4,090,100 to applicants of the first issuance of September 2017 whose applications were not accepted in full and did not participate in the second issuance of October 2017 will be effected on Friday 27th October 2017 by credit transfer through the Single European Payments Area (SEPA) scheme in the International Bank Account Number (IBAN) nominated by the applicant on the application form.

It is planned that refunds amounting to € 34,566,700 of unallocated monies to the applicants (Cat. A and Cat. B) of the October 2017 issue and whose application was not accepted in full will be effected by credit transfer through the SEPA scheme in the IBAN nominated by the applicant in the application form on Wednesday 1st November 2017.