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62+ Malta Government Savings Bond

Maltagovsavingsbonds

The Treasury has announced the issuance of the 62+ Malta Government Savings Bond – Issue 2018. The amount on offer shall be of €65,000,000 and may be increased by an additional maximum of €35,000,000 in the event of over-subscription.

This bond issue shall be open to all individuals born in the year 1956 or before.

Specifically, this Bond is being offered to:

(i) Category ‘A’ applicants: New eligible applicants in the 62+ Malta Government Savings Bond – Issue 2018 made up of (i) individuals born in 1956 and (ii) individuals born before 1956 who were eligible but did not participate in last year’s issuance of 62+ Savings Bond. Such applicants may obtain and lodge the application form (Form ‘A’) with Calamatta Cuschieri.

(ii) Category ‘B’ applicants: Existing holders of the 62+ Malta Government Savings Bond issued in September or October 2017. Such applicants shall be receiving an application form (Form ‘B’) by post which can then be lodged with Calamatta Cuschieri.

The bonds’ main features are as follows:

• rate of interest of 3% per annum fixed for five (5) years until the maturity of the bond in 2023;

• every eligible individual can apply in his or her sole name for a minimum amount of €500 up to a maximum of €8,000;

• interest is paid semi-annually in arrears;

• the bond is not negotiable and cannot be transfered onto another individual; and

• early repayment of principal is subject to a penalty equivalent to three months interest.

The Treasury has confirmed that in terms of the allotment policy, preference will be given to new eligible applicants (i.e. Category ‘A’) who were eligible to apply in last year’s issuance but did not participate for any reason whatsoever. Any remaining amounts available for allocation shall be allocated among last year’s applicants whose name appear on the register of the 62+ Savings Bonds on the 7th May 2018 (i.e. Category ‘B’), (the cut-off date), in accordance with the discretion of the Accountant General.

Applications shall open at 8:30 a.m. on Monday 11th June, 2018 and close at 5:00 p.m. on Tuesday 12th June, 2018, or earlier at the discretion of the Accountant General.

A copy of the prospectus is available HERE

Investors interested in subscribing to the bond are invited to visit one of our branches in Malta and Gozo during our office hours or contact us on +356 25 688 688 Monday to Friday from 8:30 a.m. till 10:00 p.m. and Saturdays from 9.00 a.m. till 1p.m. You can also show interest for the Malta Government Savings Bond by filling in the form available HERE