APS Bank plc - New Bond Issue
On 5 November 2020, APS Bank plc published the Formal Notice in relation to the issuance of €55 million subordinated bonds maturing between 2025 and 2030 at a coupon of 3.25% per annum. The new bonds form part of the bank’s strategic objectives of strengthening its capital buffers and specifically its Tier 2 requirements as it continues to pursue various initiatives aimed at expanding its business and outreach.
APS Bank entered into pre-allocation agreements with authorised intermediaries pursuant to which it has bound itself to allocate all of the €55 million in bonds to such authorised intermediaries. The bonds are expected to be admitted to the Official List of the Malta Stock Exchange on Thursday 19 November 2020 whilst trading would be possible as from Friday 20 November 2020.