HSBC Bank Malta plc announced on 24 September that its bond issue closed due to over subscription shortly after the opening of the General Public offer. Following last week’s preplacement which was over-subscribed by 2.54 times as total demand exceeded €38 million, HSBC reported that there was also a strong response from the General Public and as a result it exercised its over allotment option of a further €5 million. The bond issue was therefore increased to a total value of €30 million. HSBC is expected to announce its allocation policy in the coming days.
Alan Richards, Chief Executive Officer of HSBC Bank Malta plc commented that “the high demand for HSBC bonds confirms the regard and confidence that investors have in both HSBC Bank Malta and the HSBC Group as a whole”.