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.