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Bank of Valletta plc – Bond Issue Allocation Policy

Matthew Fabri

December 5, 2025

5 December, 2025
3 min read
5 December, 2025
3 min read

Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.

On 5 December 2025, Bank of Valletta plc announced the allocation policy with respect to the recent offer of up to €125 million 5.00% unsecured subordinated bonds 2030-35. The Bank explained that it received a total of 3,312 applications for a total value of €130.9 million

There were 33 applications lodged by Professional Clients and Eligible Counterparties for a total value of €37.2 million. For these applications, the first €5,000,000 per application was allocated in full, and 79.4% was applied on the remaining amounts, rounded to the nearest €100, for a total allocation of €35 million. As a result, 31 applications were met in full, representing 93.9% of total applications received from Professional Clients.

Furthermore, 2,302 applications were received from Existing Shareholders, Existing Bondholders and Group Employees for a total value amounting to €68.2 million. The first €150,000 per application was allocated in full, whilst 62.6% of the remaining amounts was allotted rounded to the nearest €100, for a total allocation of €65 million. As a result, 2,260 applications were met in full, representing 98.2% of total applications received.

Meanwhile, 977 applications were lodged by the general public for a total value of €25.5 million. The first €150,000 per application was allocated in full, whilst 80.5% of the remaining amount was allotted rounded to the nearest €100, for a total allocation of €25 million. As a result, 962 applications were met in full, representing 98.5% of total applications received from the general public.

The bonds will be admitted to listing on Friday 12 December 2025, and trading may commence as from Monday 15 December 2025. Interest on the bonds will start to accrue as from Friday 5 December 2025 and, in this respect, the first interest payment of the bonds will be made on 5 December 2026, covering the period between 5 December 2025 and 4 December 2026. Refunds of unallocated monies will be affected by no later than Friday 12 December 2025.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

On 5 December 2025, Bank of Valletta plc announced the allocation policy with respect to the recent offer of up to €125 million 5.00% unsecured subordinated bonds 2030-35. The Bank explained that it received a total of 3,312 applications for a total value of €130.9 million

There were 33 applications lodged by Professional Clients and Eligible Counterparties for a total value of €37.2 million. For these applications, the first €5,000,000 per application was allocated in full, and 79.4% was applied on the remaining amounts, rounded to the nearest €100, for a total allocation of €35 million. As a result, 31 applications were met in full, representing 93.9% of total applications received from Professional Clients.

Furthermore, 2,302 applications were received from Existing Shareholders, Existing Bondholders and Group Employees for a total value amounting to €68.2 million. The first €150,000 per application was allocated in full, whilst 62.6% of the remaining amounts was allotted rounded to the nearest €100, for a total allocation of €65 million. As a result, 2,260 applications were met in full, representing 98.2% of total applications received.

Meanwhile, 977 applications were lodged by the general public for a total value of €25.5 million. The first €150,000 per application was allocated in full, whilst 80.5% of the remaining amount was allotted rounded to the nearest €100, for a total allocation of €25 million. As a result, 962 applications were met in full, representing 98.5% of total applications received from the general public.

The bonds will be admitted to listing on Friday 12 December 2025, and trading may commence as from Monday 15 December 2025. Interest on the bonds will start to accrue as from Friday 5 December 2025 and, in this respect, the first interest payment of the bonds will be made on 5 December 2026, covering the period between 5 December 2025 and 4 December 2026. Refunds of unallocated monies will be affected by no later than Friday 12 December 2025.