Bank of Valletta plc - Details of New Notes Issue

Following last week’s announcement, on 20 March 2012 Bank of Valletta plc (BOV), issued the final terms with respect to the second series of Notes being offered under the Bank’s €125 million Debt Issuance Programme. Copies of all relative documentation, including the Prospectus, the Supplements as well as the Final Terms, are available for download from the links below.



Amount Offered:

€40 million


2nd Series from a €125 million Debt Issuance Programme


1st Tranche of the 2nd series

Issue Price:

100% (par)

Interest Payment Date:

Semi-Annually on 18 May and 18 November


The bonds will mature at 100% (par) on 17 May 2019

Preplacement Offer Deadline:

30 March 2012

Minimum Preplacement application:

€100,000 and in multiples of €100 thereafter.

Opening of Subscription Lists:

2 April 2012

Closing of Subscription Lists:

5 April 2012 or earlier at the sole discretion of the Issuer

Minimum application for notes:

€2,000 and in multiples of €100 thereafter.


Official List of the Malta Stock Exchange

Use of Proceeds:

The net proceeds from this issue of Notes, amounting to circa €39.55 million, will be used by BOV for its general corporate and funding purposes such as the provision of loans and advances. Additionally, the proceeds, besides serving as a means of diversifying BOV’s funding sources, will also enable the Bank to extend the duration of part of its funding base.

Status, Security & Ranking:

The Notes will rank after any claims which are preferred in terms of the law but will rank senior and with priority over the Issuer’s existing subordinated debt, namely the €50 million 5.35% BOV 2019 bonds and the €70 million 4.8% BOV 2020 bonds issued in 2009 and 2010 respectively, or such other subordinated debt which may be issued in the future.

The Notes are unsecured and will rank pari passu without any priority or preference with all other present and future unsecured obligations of the Issuer.


Bank of Valletta plc – Base Prospectus – 31 May 2011

Bank of Valletta plc – Supplement to the Base Prospectus – 18 July 2011

Bank of Valletta plc – Supplement to the Base Prospectus – 12 March 2012

Bank of Valletta plc – Final Terms – 12 March 2012

Bank of Valletta plc – Authorisation to Apply Form – March 2012

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