Bank of Valletta plc - Allocation Policy

On 2 July 2019, Bank of Valletta plc announced the allocation policy with respect to the recently issued €50 million 3.75% unsecured subordinated bonds maturing between 2026 and 2031. In total, BOV received 1,184 applications for an aggregate value of €53.4 million. Applications received from eligible senior bondholders and subordinated bondholders were allocated the first €1 million in full and 62.595% on the remaining amount rounded to the nearest €1,000. Furthermore, applications received from BOV Group employees and BOV shareholders were allocated the first €50,000 in full and 62.595% on the remaining amount rounded to the nearest €1,000.

Interest on the new bonds started accruing as from 2 July 2019. The new bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 9 July 2019 whereas trading in the new bonds is expected to commence on 10 July 2019.