BOV bonds allotment policy

Bank of Valletta yesterday announced its bond allotment policy after the issue of €70 million in 4.8 per cent subordinated bonds 2020, which were soon oversubscribed. The bank said it received 1,712 applications from bondholders of the 6.15 per cent...

Bank of Valletta yesterday announced its bond allotment policy after the issue of €70 million in 4.8 per cent subordinated bonds 2020, which were soon oversubscribed.

The bank said it received 1,712 applications from bondholders of the 6.15 per cent bonds 2010 (the maturing bondholders), with a value of €27,704,500. As announced beforehand, they will be given preference and allotted in full.

As for the remaining €42,295,500, the bank received a further 5,081 applications with a value of €68,768,900.

Applications up to €10,000 shall receive a 100 per cent allocation; applications in excess of €10,000 shall receive an allocation of 23.77 per cent.

The bank said 74.39 per cent of applicants shall receive a full allotment. Interest on the bonds will commence accruing as of Monday.

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