On 18 October, Mediterranean Bank plc announced the allocation policy with respect to its recent bond offering. The Company issued €15 million 6.25% bonds which mature on 30 October 2015. In view of the over-subscription for these Bonds, Mediterranean Bank scaled down applications as follows:
1) Applications for Bonds having a nominal value up to and including €100,000 will be met in full.
2) Applications for Bonds having a nominal value in excess of €100,000 will be met in full up to the first €100,000 and 64.23% of the balance will be allotted.
Refunds of unallocated monies will be made by next Monday 25th October 2010. Interest started to accrue as from today Monday 18 October 2010 whilst trading on the Official List is expected to commence shortly.