Bank of Valletta has announced the launch of an offer to the public of €75 million 3.50% Notes maturing in 2030.

The Bank said that this offering is the first tranche of a Subordinated Notes Programme that includes a second tranche for an equivalent amount which is intended to be launched later this year.

Speaking about this Programme, the Bank's Chief Executive Officer, Mr Charles Borg explained that the offering of these subordinated notes on the local market forms part of the Bank's strategy to strengthen its Common Equity Tier 2 capital. In fact the net proceeds from the issue of the Notes will be used by the BOV Group to meet part of its general financing requirements.

The BOV Group's capital base, as defined in Part Two of the Capital Requirements Regulation is composed of the Common Equity Tier 1 and Tier 2 capital.

BOV said that the joint sponsors appointed for this Subordinated Notes Programme are Rizzo, Farrugia & Co. (Stockbrokers) Ltd, and Jesmond Mizzi Financial Advisors Ltd. Application forms for Series1/2015, Tranche 1 are available from all branches of Bank of Valletta and other authorised financial intermediaries.

The Notes are subordinated and unsecured. The value of investments may increase as well as decrease and past performance is not an indication of future performance.

"Prospective investors are urged to read the Prospectus, the Supplement and the Final Terms, particularly the Risk Factors contained in section 6 of the Prospectus."

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