APS Bank announces early closing of its Bond Issue

With reference to its issue of 5.8% unsecured subordinated bonds 2028–2033 opening Monday 30 October 2023, APS Bank plc issued a company announcement on Sunday 29 October informing that it will be closing the Offer at 15.00 of the opening day. This decision was taken based on preliminary information received from Authorised Intermediaries and indications shared by them. The Bank added that all applications received by the closing time will be processed, and a further company announcement with details of the Allocation Policy will follow in the coming days.

Marcel Cassar, APS Bank CEO, commented: “Similar to our 2020 debut bond issue and again our equity IPO last year, we are compelled to close a major capital markets offer practically at the opening. By Saturday the feedback to this Bond Issue was indicating an overwhelming response and the decision to announce an early closing was taken in the interest of managing the expectations of all applicants, and of the market in general. We are once again most grateful for the trust and support being shown in the future of APS Bank”.