Bank of Valletta (BOV) plc has announced its intention to launch an Unsecured Euro Medium Term Bond Programme worth up to €325 million, pending approval from the Malta Financial Services Authority (MFSA).
The bank’s Board of Directors approved the preparation of a draft base prospectus for the programme and has submitted an application requesting its admissibility for listing with the MFSA.
The programme is understood to be for the purpose of meeting the minimum requirement for own funds and eligible liabilities (MREL) obligations, a key regulatory framework under the EU’s banking resolution directive.
Once regulatory approval is granted, BOV plans to issue the first series and tranche of bonds, aiming to raise up to €125 million. These bonds will carry a 5 per cent interest rate and have maturities ranging from 2030 to 2035.
The programme will allow BOV to access long-term financing through the bond market, providing investors with an opportunity to invest in the bank’s growth.
Additional details, including the publication of the base prospectus and final terms, will be made available once regulatory approval is received.
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Adel Montanaro
Adel Montanaro is a storyteller at heart, combining a journalist’s curiosity with a deep love for music and creativity. When she’s not chasing the next great story, you’ll find her at a local gig, brainstorming fresh ideas, or surrounded by her favourite people and pets.
