5.00% MEDITERRANEAN BANK PLC 13.10.2022/27 (EUR) (Subordinated) (BRRD) (Callable)

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Mediterranean Bank plc - Prospectus dated 25 September 2017

The Company

Mediterranean Bank is a specialist bank focusing on wealth management, savings and investments. The Bank was established in June 2004 and was licensed as a Maltese credit institution (regulated by the Malta Financial Services Authority) in July 2005.

In July 2009, the Bank was acquired by new shareholders indirectly through the holding company Medifin Holdings Ltd. Medifin was acquired by AnaCap Financial Partners II L.P (91.4%), with the balance held by minority shareholders.

The Issuer is licensed to carry out the business of banking, to undertake money transmission services, to issue and administer means of payment, to issue guarantees and commitments, to trade on own account and/or for the account of customers in a number of instruments, to provide portfolio management and advice and to provide safe keeping services. The Issuer focuses on wealth management, savings and investments. The Issuer also holds a Category 2 and Category 4 license issued by the MFSA which authorises the Issuer to provide investment services, to hold or control clients’ money and to act as trustee or custodian of collective investment schemes.

Mediterranean Bank’s current Head Office is located in Valletta.

Use of Proceeds:

The net proceeds from the Bond issue, estimated at €19.5 million (comprising both the EUR and GBP tranches) after issuance costs, have been principally used by the Issuer to meet part of its general financing requirements and also constitute Tier 2 Capital of the Issuer.

Status (Ranking and Subordination):

The Bonds are unsecured and Subordinated.

The Bonds are unsecured and subordinated. Subordination means that the rights and claims of Bondholders in respect of the payment of capital and interest on the Bonds will, in the event of dissolution and winding up of the Issuer, rank after the claims of all unsubordinated debt and will not be repaid until all other unsubordinated debt outstanding at the time has been settled. The Bonds constitute the general, direct, unconditional, subordinated and unsecured obligations of the Issuer and shall at all times rank equally and rateably without any priority or preference among themselves and with other subordinated unsecured debt.

The Bonds shall rank subsequent to any other outstanding, unsubordinated and unsecured obligations of the Issuer, present and future. The Issuer may incur further borrowings or indebtedness and may create or permit to subsist other security interests upon the whole or any part of its present or future, undertaking, assets or revenues (including uncalled capital).

The Bonds shall also rank subsequent to any prior ranking security interest created for the purpose of securing the Issuer’s secured interbank funding lines and repurchase agreements. Such interbank funding lines and repurchase agreements are used to finance the Issuer’s investment portfolio.

Coupon

5.0%

Amount Issued:

€18.65 million

ISIN Code:

MT0000551284

Issue Price:

100% (par)

Interest Payment:

Annually on 13 October

XD Date:

28 September

Maturity:

The bonds will mature at 100% (par) on 13 October 2027 but may be redeemed early on any interest payment date between and including 2022 and 2027, by giving not less than 30 days notice.

Listing:

Official List of the Malta Stock Exchange

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