Bank of Valletta plc - Distribution of First Tranche of Bonds

On 8 October 2024, Bank of Valletta plc announced that the first tranche of the upcoming Unsecured Euro Medium Term Bond Programme will be available for subscription by all categories of investors, subject to regulatory approval. Furthermore, applications by retail clients will be subject to a suitability test conducted by the authorised financial intermediary irrespective of the investment service being provided.

The issue of €100 million 5% unsecured subordinated bonds maturing in 2029-2034 will be distributed as follows:

• An amount of €60 million will be reserved for subscription by holders of the 3.50% BOV subordinated bonds 2030 (Series 1 & 2), 3.75% BOV subordinated bonds 2026/31, and shareholders of BOV as at close of trading on 9 October 2024, together with employees of the Bank and any of its subsidiaries.
• An amount of €25 million will be reserved for subscription by Professional Clients and Eligible Counterparties.
• The remaining €15 million will be reserved for subscription by the general public.

Any portion not fully subscribed to by a particular pot will be made available for subscription to another pot.

Applications will be subject to a minimum subscription amount of €10,000 and in multiples of €100 thereafter with the exception of applications by Professional Clients and Eligible Counterparties which will be subject to a minimum subscription amount of €100,000 and in multiples of €100 thereafter. Further details will be published once regulatory approval is obtained.