Bank of Valletta plc - New Bond Issue

Bank of Valletta plc announced a new €35 million bond issue at a coupon of 5.35% per annum. The bonds have a final maturity date of 15 June 2019. The Issuer also reserves the right to increase the amount up to a further €15 million in the event of over-subscription.

Interest is payable semi-annually on 15 June and 15 December of each year with the first payment date being 15 December 2009.

BOV is reserving €15 million worth of bonds at pre-placement stage for those preferred applicants i.e BOV shareholders who were on the company’s register as at 13 May 2009.

A pre-placement exercise is taking place on Thursday 4 June 2009. Minimum subscriptions at pre-placement stage are of €2,500 (nominal) and in multiples of €100 thereafter for preferred applicants and €10,000 (nominal) and in multiples of €100 thereafter for other investors. Meanwhile subscriptions for the General Public Offer open on Monday 8 June and close on Friday 12 June or earlier in the event of over-subscription. Applications during the General Public offer are for a minimum of €2,500 (nominal) and also in multiples of €100 thereafter.

Bank of Valletta has submitted an application for the new bonds to be admitted to the Official List of the Malta Stock Exchange.

For further information on the bond issue and the BOV Group, investors are requested to consult the Prospectus or the Presentation. Those investors who wish to purchase some bonds may download an application form and submit to our office accompanied by payment.

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