Issue link: https://maltatoday.uberflip.com/i/1527938
8 maltatoday | WEDNESDAY • 16 OCTOBER 2024 BUSINESS BANK of Valletta has just ob- tained regulatory approval from the MFSA for the listing of an unsecured Euro Medium Term Bond Programme of up to €250 million and for the issuance of the first tranche of Bonds. The first tranche of Bonds under the programme will be in the form of an issue of up to €100 million 5% unsecured subordinated Bonds (2029- 2034). These will be available for subscription by all catego- ries of investors. €60 million in Bonds will be reserved for subscription by Bondholders and Shareholders of the Bank (holding specific Bonds and Shares as listed in the Final Terms) as well as em- ployees of the Bank or any of its subsidiaries. €25 million in Bonds will be reserved for subscription by professional clients and eligible counterparties, each as defined in the conduct of business rulebook issued by the MFSA, while the remaining €15 mil- lion in Bonds will be reserved for subscription by the general public. Any portion not fully sub- scribed in any one of the planned allocations will be made available for subscription to the remaining allocations. Applications will be accepted between and including 22 Oc- tober 2024 and 19 November 2024. The Bank reserves the right to close the offer of Bonds earlier with respect to any one or more classes of applicants (depending on the total level of subscription in the Bonds). Speaking about the Bond is- sue, BOV Chairman Dr Gor- don Cordina welcomed the regulatory approval of a Medi- um Term Bond Programme of up to €250 million. "The issue will support the Bank's efforts to achieve its ambitious strategic plan, its medium and long term vision, and its commitment towards sustainable growth," he said. "We continue on our jour- ney to sustain Bank of Vallet- ta's strong financial standing, strengthen our capital base and maintain a strong balance sheet, while at the same time offering value to the investor market and to our loyal share- holders and bondholders." Reiterating the Chairman's comments, CEO Kenneth Far- rugia expressed satisfaction on the achievement of yet another important milestone. "This Bond issue by Bank of Valletta is a clear signal to the market of the Bank's con- fidence in its future growth strategy. We continue to build on years of experience in the financial services industry, on the elevated customer experi- ence that we are offering, the innovation we are spearhead- ing, and on the success that the Bank has come to be associated with," he said. "We renew our commitment to our customers, our people and all our stakeholders, who continue to place their trust in the Bank. The issue of the Me- dium Term Bond Programme is another step in the Bank's plans to strengthen its position as Malta's Bank of Choice." Applications will be subject to a minimum subscription amount of €10,000 and in mul- tiples of €100 thereafter with the exception of applications by professional clients and eli- gible counterparties, which will be subject to a minimum sub- scription amount of €100,000 and in multiples of €100 there- after. Applications for Bonds by retail clients will be subject to a suitability test conducted by the authorised financial in- termediary irrespective of the investment service being pro- vided. The Base Prospectus and Fi- nal Terms are available for download from https://www. bov.com/bond-prospectus Printed copies of these doc- uments will be available from Authorised Financial Inter- mediaries as from 22 October 2024. APS Bank has launched a new capital-guaranteed, structured deposit product, the APS Kap- ital Plus 19. With a minimum deposit of €5,000 fixed for three years, this limited-time offer pre- sents a secure investment opportunity, at a competitive fixed interest rate of 2.5% gross (per annum), paid annu- ally for the first two years, with no initial or annual charges. There is also the possibility of earning a bonus in the third year, tied to the performance of the APS Ethical Cautious Fund which is actively man- aged by ReAPS Asset Manage- ment Limited. Josef Portelli, Managing Di- rector at ReAPS Asset Man- agement and Head of Invest- ment Management at APS Bank commented, "With APS Kapital Plus 19, we are offer- ing a secure solution tailored to cautious investors who pri- oritise protecting their capi- tal while seeking consistent, modest returns. This product is ideal for those who prefer stability over volatility and are looking to grow their savings without taking on unneces- sary risk, whilst also being willing to participate in the performance of one of our funds. Our goal is to provide a dependable investment op- tion with the potential for an additional bonus at the end of the term." Visit apsbank.com.mt/kap- ital-plus-19/ for more infor- mation. BOV announces issue of up to €100 million 5% unsecured subordinated bonds (2029-2034) APS Bank launches Kapital Plus 19 Applications will be accepted between and including 22 October 2024 and 19November 2024