Government target €550 million worth of stocks
Jan 21st, 2010 | By maltainc | Category: Economics, Financial Services, Malta Stock Market, Services to facilitate businessThe government is expected to sell €550 million worth of stocks this year, the treasury announced on Wednesday.
The money raised will be used to redeem 4 Malta Government Stock (MGS), totalling €191 million which are due to mature in February, June and July.
The remaining money will be used to finance the government borrowing requirement and effecting changes in the debt portfolio.
There will be 2 types of security – the conventional fixed rate MGC and the floating Rate MGS (FR Bond) linked to the six month Euribor.
“The conventional fixed rate MGS is expected to be the Treasury’s primary financial instrument by which fund the central government borrowing requirements during 2010,” it said [...]
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