Bank of Valletta is offering up to €40 million worth of notes with an interest rate of 4.25 per cent per annum, payable semi-annually and redeemable in 2019. The notes have a nominal value and issue price of €100 per note. The notes are unsubordinated and unsecured.
Subscriptions from the general public open on April 2 and close on April 5, or earlier at the bank’s discretion and may be made for a minimum of €2,000 and afterwards in multiples of €100.
Pre-placement subscriptions may be made on March 30 for a minimum of €100,000 and afterwards in multiples of €100.
“This proposed notes offer will serve as a means of diversifying our funding sources, while enabling us to extend the duration of our funding,” BoV chief executive officer Charles Borg explained. “The extended duration will also permit us to offer an investment for a duration which is not catered for by our deposit product range”.
The prospectus and application forms are available from branches authorised financial intermediaries. It may also be downloaded at www.bov.com.