Izola Bank plc has announced that its recent bond issue of €14,000,000 5% unsecured subordinated bonds 2027-2032 was successfully over-subscribed and closed within just a few days of opening.  

The bond issue was admitted to the Official List of the Malta Stock Exchange on Friday, September 16, 2022, with trading due to begin on Monday, September 19, 2022.  

Based on this success, Andrew Mifsud, CEO and director of Izola Bank plc took the opportunity to thank all those involved: "The chairperson and board of directors would like to thank the existing bondholders who subscribed to the Exchange Offer for their continued confidence in the bank. We would also like to thank the investing public for their interest and participation, as well as the authorised financial intermediaries who worked with us in managing this third successful bond issue."

Izola Bank will use the bond issue funds to help sustain its growth strategy. The bank, which is wholly owned by the Van Marcke Group, obtained its banking licence in 1994 and has been operating successfully in Malta for the last 28 years. The bank provides tailor-made financing solutions for SMEs and large companies in Malta and Belgium mainly through commercial credit facilities and factoring. The bank also offers retail customers online savings and term deposits as well as mortgage lending.

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