Bank of Valletta (BOV)’s €100 million five per cent unsecured subordinated bonds have been fully subscribed within days of its launch and subsequently oversubscribed as a result to “the public’s overwhelming response.”

The bank closed the offer period on Thursday 24th October 2024 at 2pm. BOV announced that it will be carrying out a scaling down process in terms of the Final Terms and a company announcement with details of the allocation policy will follow in due course.

Commenting on the bond issue, BOV Chairman Gordon Cordina noted that this achievement marks another milestone for BOV “and highlights the confidence that both investors and the public have in this bank.”

On the other hand, CEO Kenneth Farrugia said that the announcements validate the bank’s strategic vision and efforts to strengthen its capital, which in turn will support the growth of the business in the years ahead.

“This was the largest ever issue in the domestic market and the participation of both institutional and personal investors is an endorsement of the trust that the bank enjoys in the market,” he concluded.