Allocation policy for BoV bond

Bank of Valletta plc will tomorrow announce its allocation policy after its issue of €35 million 5.35 per cent subordinated bonds was overwhelmingly oversubscribed within hours on Monday morning. Total demand exceeded €120 million; the bank exercised...

Bank of Valletta plc will tomorrow announce its allocation policy after its issue of €35 million 5.35 per cent subordinated bonds was overwhelmingly oversubscribed within hours on Monday morning.

Total demand exceeded €120 million; the bank exercised the over-allotment option of €15 million in full.

The bank last week said refunds will be processed shortly.

"The support for the issue was widespread, and came from all sectors, including the bank's stakeholders - shareholders, employees, institutional and retail clients, as well as from financial intermediaries," BoV chief executive officer Tonio Depasquale said.

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