HSBC Bank Malta plc is offering €25 million in 5.90 per cent per annum subordinated bonds redeemable in 2018.

The bond issue is subject to an over-allotment option not exceeding €5 million.

The nominal value of the bonds on offer will be repayable in full upon redemption.

Applications can be made for a minimum of €2,500 and thereafter in multiples of €100. The offer will be open between September 24 and September 30 but may close earlier, without prior notice, if fully subscribed.

"We believe this bond issue represents a good investment opportunity for the local market with an attractive rate of interest," HSBC Bank Malta's chief executive officer, Alan Richards, said. "We think it provides a good long-term investment opportunity for both small investors and institutions."

HSBC has applied for the listing of the bonds on the Malta Stock Exchange. Charts Investment Management Service Ltd have been mandated to act as sponsoring stockbrokers.

More information can be found in the prospectus which, together with application forms, can be obtained from any HSBC branch, ShareShops and authorised distributors. One can also call HSBC's customer service on 2380 2380 or visit the website www.hsbc.com.mt.

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