On 1 October HSBC Bank Malta plc announced its allotment policy in respect of the applications for its €30 million 5.9% 2018 bond issue which was over-subscribed. HSBC said it received 2,800 applications for a total value exceeding €53 million. Applications during the General Public offering up to a value of €4,000 were accepted in full. Meanwhile in the case of applications exceeding €4,000, the first €4,000 were accepted in full while 15.933% of the balance was allotted. Any refunds will be made by HSBC through a direct credit into the applicant’s bank account. Interest payable on these bonds started to accrue with effect from 1 October 2008 while trading is expected to commence next week.