MeDirect Bank has announced that its recent €30 million issue of 5.85 per cent unsecured subordinated bonds, maturing between 2031 and 2036, has been oversubscribed by existing bondholders.
The bonds have a nominal value of €100. The bank said that, as a result of the strong demand, the intermediaries offer will not proceed.
Commenting on the outcome of the offer, MeDirect CEO Jean-Claude Maher thanked all investors who participated in the issue for their continued confidence and support.
“This strong level of demand is a clear vote of confidence in MeDirect’s strategy and future direction. We are grateful to all investors who chose to participate in this bond issue and place their trust in our vision,” Mr Maher said.
MeDirect said that, in addition to helping individuals manage their finances through daily banking services, savings products and investment opportunities, it supports Malta’s business community through a growing range of corporate banking and financial services.
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Julia Falzon
Julia is a business journalist at Content House, exploring the stories behind the numbers, the people behind the companies, and the ideas shaping the world of business. Outside journalism, she enjoys reading, watching movies, and taking long walks for reflection and inspiration.
