On 10 August, Bank of Valletta plc announced the allocation policy with respect to its recent offering of €40 million 4.8% Notes 2018 – the first Series and Tranche under the Debt Issuance Programme of €125,000,000 (or its equivalent in any other currency).
BOV stated that it received a total of €55,345,000 from 2,842 applicants and as a result announced the following allocation policy:
• Applications up to and including €50,000 will be met in full;
• Applications in excess of €50,000 will be allotted the first €50,000 and an allocation of circa 17.43% of the remaining balance.
Pursuant to this allocation policy, BOV explained that circa 96.4% of the applicants participating in this issue will receive full allotment.
Interest on the 4.8% Bonds will start accruing as from today Wednesday 10 August 2011. Meanwhile refunds of the unallocated monies will be made by not later than tomorrow Thursday 11 August 2011.