Monday, 8th June 2009 - 17:08CET

BOV's €35m bond issue over-subscribed in a few hours

Bank of Valletta's €35 million 5.35% Subordinated Bonds were fully subscribed within hours of being offered this morning.

The bank said it received an overwhelming response, and decided to close the subscription lists at noon. Total demand exceeded €120 million. The bank exercised the over-allotment option of €15 million in full.

The bank will be announcing its allocation policy by June 15, with refunds being processed shortly thereafter.

"The response of the investing public to this bond Issue has been overwhelming, and is a clear indication of the positive sentiment that the public has towards the bank. The support for the Issue was widespread, and came from all sectors of the Maltese public, including the bank's stakeholders - shareholders, employees, institutional and retail clients, as well as from Financial Intermediaries," said BOV Chief Executive Officer, Tonio Depasquale.

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Article © Allied Newspapers Ltd., printed on Sunday, November 22, 2009. This article is for personal use only, and should not be distributed.

Comments

Josef Micallef (on 8/6/09)

Frequently these issues are taken by Institutional Investors. So it is not your neighbour that has all these monies. Probably there would be some International Institutional Investors too.

Galea. L (on 8/6/09)

Bernice Bruno Ghandek ragun biex tbigh.

Bernice Bruno (on 8/6/09)

Interessanti li nkunu nafu kemm individwi irikorrew ghal dawn il-bonds ghax il-bizgha tieghi hija li vera hawn flus fl-idejn imma qeghdin ghand il-ftit u mhux ghand il-hafna!

andre camilleri (on 8/6/09)

le le.. m'hawn flus fl-idejn!!!