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4.8% BOV 2018 – 2ND TRANCHE

Bank of Valletta announced that it will issue the Second Tranche of Notes under the Programme consisting of a maximum of €20,000,000 4.8% Notes due 2018.

BOV confirmed that an application has been made to list the Tranche 2 Notes on the Official List of the Malta Stocks Exchange. Moreover, the Tranche 2 Notes will be fungible with the €40 million First Tranche issued on 10 August 2011.

The Tranche 2 Notes shall be offered to the following category of persons:

  • To those investors who applied for the Tranche 1 Notes but who were not allotted in full. In this respect, the Issuer has reserved €15,345,500 (nominal) of the Tranche 2 Notes for such investors. Each of these investors shall be preferred up to an amount equal to the amount applied for in the First Trache which were not allotted. Any amount of the Tranche 2 Notes applied for by each Tranche 1 investor, in excess of the amount not previously allotted, shall be disregarded and not allotted.
  • To credit institutions and insurance companies. The balance of €4,655,000 (nominal) of the Tranche 2 Notes has been reserved by BOV for such categories of investors.

BOV explained that in the event that the amount of Tranche 2 Notes (reserved in favour of Tranche 1 Investors) is not subscribed in full, the balance may be utilised to satisfy applications by any credit institutions and insurance companies.

Subscriptions in relation to the Tranche 2 Notes will open on Thursday 25 August 2011 and will close on the following day or earlier at the Issuer’s discretion.