APS Bank has announced the issue of €55,000,000 3.25 per cent Unsecured Subordinated Bonds due 2025-2030 pursuant to a prospectus dated November 2. The bank furthermore advised that as prescribed by the prospectus and as defined and detailed therein, all bonds have already been fully pre-allotted with participating authorised intermediaries, with preference on allotment being given to the preferred applicants.

Interest on the bonds at the rate of 3.25 per cent per annum on the nominal value thereof started on November 19 and will be payable annually in arrears on each anniversary, with the first interest payment falling due on November 19, 2021.

The bonds were admitted to trading on the Official List of the Malta Stock Exchange on November 19, and trading began on November 20.

The directors noted the successful completion of another stage of the capital development plan that the bank had launched in 2017 in support of its growth strategy and thanked investors and participating authorised financial intermediaries for the confidence expressed in the bank and for the support shown towards its first bond issue.

It expressed special thanks to the bank’s staff who worked on this project, as well as the appointed sponsor and manager − Rizzo, Farrugia & Co (Stockbrokers) Ltd, the registrar of the Malta Stock Exchange plc and their legal counsel − Ganado Advocates.

A copy of the prospectus may be accessed on the link https://www.apsbank.com.mt/investor-information.