BOV bond issue oversubscribed

Bank of Valletta's offer of €50 million worth of 4.8 per cent subordinated bonds was over-subscribed, with subscription lists closing at noon, hours after the issue opened yesterday morning. In view of this demand, the bank will exercise the...

Bank of Valletta's offer of €50 million worth of 4.8 per cent subordinated bonds was over-subscribed, with subscription lists closing at noon, hours after the issue opened yesterday morning.

In view of this demand, the bank will exercise the over-allotment option of a further €20 million in full. The bank will announce its allocation policy by Monday.

BOV chief Tonio Depasquale said this was a "testimony to the strength and trust in the BOV brand", and a sign of the public's confidence in the bank.

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