Applications closed within two days of launch following strong response by investors
Bank of Valletta has just announced the successful closure of its €100 million 5% unsecured subordinated bonds (2029-2034). The Bond Issue was fully subscribed within days of its launch to the market, with the public’s overwhelming response resulting in the Bonds being oversubscribed.
Commenting on the successful Bond Issue, BOV Chairman Dr Gordon Cordina stated, “This achievement marks yet another milestone for Bank of Valletta and highlights the confidence that both investors and the public have in this Bank. Such overwhelming support gives us the confidence to continue on our journey to deliver sustainable growth for the Bank and to offer long-term value to all our stakeholders.
CEO Kenneth Farrugia said that “This announcement validates our strategic vision and our ongoing efforts to strengthen the Bank’s capital, which will in turn support the growth of our business in the years ahead of us. 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. I would like to take this opportunity to express my sincere appreciation to all the investors who have entrusted us with their confidence, as well as to the Bank’s employees who tirelessly prioritise our customers, shareholders, and other stakeholders in everything we do.”