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4 maltatoday | WEDNESDAY • 30 JUNE 2021 NEWS A €60 million bond issue by communi- cations company GO has attracted more than 6,500 applications worth €146 mil- lion. The unsecured bonds offering a 3.5% interest will start being traded on the Malta Stock Exchange on 6 July after the company announced its allocation poli- cy. GO said that it received a total of 2,497 applications for a total amount of €65 million worth of bonds from preferred applicants. These applications will be satisfied in full up to €2,000 worth of bonds and 24.999% on any additional amount applied for after that. The company also received a total of 4,013 applications for a total amount of €81 million worth of bonds from the general public. These will be satisfied in full up to €1,000 worth of bonds and 7.7956% on any additional amount. With an oversubscription running into €116 million, the bond appears to have tapped into the market liquidity that has been growing since the start of the COV- ID-19 pandemic. Banks are flush with customer deposits that are earning paltry interest income, making such bond offerings an interest- ing option. According to the Central Bank of Mal- ta's June Economic Update, residents' bank deposits in April expanded at an annual rate of 7.4%. A month earlier, deposits increased by 7%. The CBM update also showed that overnight deposits, which are the most liquid, grew by 9.6% in the 12 months to April after having increased by 9.4% a month earlier. Overnight deposits made up more than 85% of overall bank depos- its. GO bond issue oversubscribed by €116 million TWO men sustained serious injuries after they were involved in a brawl that took place at St George's Bay at 2:45am, the police said. A 20-year-old Libyan was certi- fied to have serious injuries, while the second victim, whose age has not yet been established, sustained grievous injuries. Police said that it was called in for assistance after a man was spotted unconscious and another had visi- ble injuries at St George's Bay. Initial investigations showed that the two Libyan men were involved in an argument with a group of for- eign men, who escaped from the area. The police said it was looking for the alleged perpetrators. The victims were treated on site by a medical team from Mater Dei Hospital and later hospitalised. Duty Magistrate Claire Stafrace Zammit is holding an inquiry, while the St Julian's district police are in- vestigating. Two men injured after brawl in St George's Bay BERNARD Grech will today address the Malta Council for Economic and Social Develop- ment on Malta's greylisting af- ter his request for an audience was granted. The Opposition leader wrote to MCESD President James Pearsall on Monday to be al- lowed to address the social partners in the first scheduled meeting of the MCESD on Wednesday. Responding today, Pearsall said that he arranged for the Opposition leader to address the MCESD today at 12:30pm. The formal meeting with MCESD members will add pres- sure on government to provide a clear roadmap ahead to get the country off the FATF grey- list. So far, the government has de- clined the Opposition's propos- al for the creation of a high-lev- el task force to address the problem. In his letter published by the Nationalist Party this afternoon, Grech said he wanted to hear the views of the social partners and put forward the proposals the Opposition was making to enable the country get off the greylist. "The occasion will allow me to present the proposals made by the Opposition to enable the country to respond to this his- toric challenge, which if not ad- dressed seriously, can threaten thousands of jobs and compa- nies in the country," Grech said, adding he also wanted to hear what the social partners had to say. Malta was greylisted by the Financial Action Task Force last week after members were unconvinced the country had done enough on the ground to combat financial crime. On Monday, Grech proposed the creation of a parliamenta- ry committee that will consult with all stakeholders and deal with greylisting after govern- ment turned down an initial offer for the setting up of a high-level task force. He also asked the government to publish all correspondence exchanged with the FATF and the action plan that has been agreed. Finance Minister Clyde Caru- ana has said that the circum- stances necessitated work being done in silence and behind the scenes, calling on politicians to take a step back. Government has insisted greylisting was unjust on the country but gave its political commitment to FATF that it will address shortcomings high- lighted by the organisation. Key points to address include more intelligence gathering on criminal tax evasion, prosecu- tion of tax crimes and ensuring the information on beneficial owners is accurate. Bernard Grech to address MCESD social partners on greylisting Bernard Grech