BoV €40m notes fully subscribed

Bank of Valletta’s public offer of €40 million 4.8 per cent notes due 2018 was fully subscribed within a few hours after opening last week. Proceeds from the notes, which are unsubordinated and unsecured, will be used for the bank’s general corporate...

Bank of Valletta’s public offer of €40 million 4.8 per cent notes due 2018 was fully subscribed within a few hours after opening last week.

Proceeds from the notes, which are unsubordinated and unsecured, will be used for the bank’s general corporate and funding purposes.

These notes will serve as a means of diversifying the bank’s funding sources and will enable BoV to extend the duration of part of its funding.

The bank will be announcing its allocation policy on August 10.

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