MeDirect Bank (Malta) plc would like to announce that we will be accepting applications for anyone interested in the new Bond Issue by Bank of Valletta plc.
Approval by the Listing Authority has been granted to Bank of Valletta plc. (BOV) to issue new bonds under the Unsecured Euro Medium Term Bond Programme. They are aiming to raise a total of €250 million.
The first tranche of these bonds will be 5% unsecured subordinated bonds, maturing between 2029 and 2034, with an issue of up to €100 million. These bonds will be listed on the Official List of the Malta Stock Exchange.
The bonds will be available for subscription by all categories of investors and will be distributed as follows:
Category A: €60 million reserved for existing BOV bondholders, shareholders, and employees (i.e. retail investors).
Bondholders and Shareholders of the Bank namely holders appearing on the respective registers as of 11 October 2024 with last trading session on the 9 October 2024 (the “Cut-Off Date”) of:
- 3.50% Bank of Valletta p.l.c. Subordinated Bonds 2030 (Series 1) bearing ISIN MT0000021312;
- 3.50% Bank of Valletta p.l.c. Subordinated Bonds 2030 (Series 2) bearing ISIN MT0000021320;
- 3.75% Bank of Valletta p.l.c. Subordinated Bonds 2026/31 bearing ISIN MT0000021353; and
- Bank of Valletta p.l.c. shares bearing ISIN MT0000020116
Category B: An amount of €25 million in Bonds will be reserved for Professional Clients and Eligible Counterparties each as defined in the conduct of business rulebook issued by the Malta Financial Services Authority.
Category C: The remaining €15 million in Bonds will be reserved for subscription by the general public (i.e. retail investors).
The bonds for Categories A and C (ie. for retail clients) will be issued in multiples of €100 with a minimum subscription amount of €10,000. All applications for bonds by retail clients must undergo a suitability test conducted by an authorised financial advisor.
Full details about this issue are set out in the Base Prospectus and Final Terms dated 11 October 2024 , which are available on the BOV website accessible from here.
If you are interested in applying, please send a Secure Message via online banking or mobile app expressing your interest or contact your Relationship Manager, directly to set up an appointment.
For further information, please call us on (+356) 2557 4400 or send an email to customerservice@medirect.com.mt.
The information set forth in this article is only for informative purposes and should not be construed as an offer to sell or solicitation of an offer to subscribe for or purchase any investment. The information provided is subject to change without notice and does not constitute investment advice or any guarantee of returns. Please consider the terms and conditions governing the relevant investment prior to making any investment decision. Investors should note that at worst they may lose all of their invested principal in the event of default, insolvency and/or bankruptcy of the relevant issue. The financial instruments discussed may not be suitable for all investors and investors must make their own informed decisions and seek their own advice regarding the appropriateness of investing in financial instruments or implementing strategies discussed herein.
MeDirect Bank (Malta) plc has based this document on information obtained from sources it believes to be reliable but which have not been independently verified. MeDirect Bank (Malta) plc does not therefore provide any guarantees, representations or warranties. The value of any investment or income may go up as well as down and past performance is no guarantee of any future performance. When an investment is denominated in a currency other than your local or reporting currency, changes in exchange rates may have an adverse effect on your investment.
MeDirect Bank (Malta) plc, company registration number C34125, is licensed by the Malta Financial Services Authority under the Banking Act (Cap. 371) and the Investment Services Act (Cap. 370). This material shall not be reproduced in any way, whether in whole or in part. Any unauthorised disclosure, use or dissemination, either in whole or in part, of the material contained within is strictly prohibited.
