Bank of Valletta is offering the public of €75 million 3.5 per cent Notes maturing in 2030.
This offering is the first tranche of a Subordinated Notes Programme that includes a second tranche for an equivalent amount intended for later this year.
Bank Chief Executive Officer Charles Borg explained that the offering formed part of the bank’s strategy to strengthen its Common Equity Tier 2 capital. Net proceeds from the issue will be used by the group to meet part of its general financing requirements.
The group’s capital base, as defined in Part Two of the Capital Requirements Regulation is composed of the Common Equity Tier 1 and Tier 2 capital.
The joint sponsors appointed for this programme are Rizzo, Farrugia & Co. (Stockbrokers) Ltd, and Jesmond Mizzi Financial Advisors Ltd. Application forms for Series1/2015, Tranche 1 are available from all bank branches and other authorised financial intermediaries.
The Notes are subordinated and unsecured.