BOV is planning to issue a 12-month subordinated debt programme of up to €150 million.
The funds will form an integral part of the BOV’s capital plan and are aimed at further strengthening its Tier 2 Capital as required by European banking regulations.
The net proceeds from the issue will also be used by BOV to meet part of its general financing requirements.
The issue of the note and its listing on the Stock Exchange is subject to regulatory approval.