Issue link: https://maltatoday.uberflip.com/i/1545062
THE inaugural edition of XCA Dialogues brought together in- dustry leaders, professionals, ac- ademics and emerging talent for a full day of discussion focused on the evolving future of Malta's construction sector. Held at Corinthia St George's Bay under the theme "Building Better: Innovation & Wellbeing in Construction," the symposi- um formed part of XCA's new biennial programme, introduced by the organisers of the Excel- lence in Construction Awards, which will return in 2027. The initiative was organised by QP, CSR Partner of XCA, reflecting its commitment to supporting dialogue, knowledge exchange and higher standards across the built environment. Opening the symposium, Reu- ben Xuereb, Chairman and CEO of QP, spoke about the thinking behind the initiative and the im- portance of creating space for more meaningful industry dia- logue. Among the highlights of the programme were keynote ses- sions delivered by internation- ally recognised speakers includ- ing Nigel Ostime, who explored how industrialised construction methods are reshaping project delivery, Prof Leroy Gardner, who examined the future poten- tial of steel additive manufac- turing within construction, and Amit Oberoi, whose keynote focused on integrity, accounta- bility and responsible leadership within the industry. Panel discussions throughout the symposium explored how innovation, technology, and collaboration are redefining the modern leading contractor and raising industry standards, while also highlighting the importance of responsible contractor prac- tices, workforce wellbeing, and organisational culture in shap- ing a safer, more ethical, and more sustainable construction industry. A dedicated student segment also formed part of the pro- gramme, with students present- ing research and projects directly to contractors, architects, engi- neers and industry stakeholders, encouraging greater exchange between academic research and industry practice. The symposium concluded with closing remarks by The Honourable Dr. Jonathan At- tard, Minister for Justice and the Reform of the Construction Sector, who reflected on the im- portance of continued progress, responsibility and collaboration across Malta's construction in- dustry. Organisers described the first edition of XCA Dialogues as an important step towards estab- lishing a long-term platform for knowledge exchange and indus- try discussion within Malta's built environment sector. The event was endorsed by leading authorities, institutions and professional bodies across the construction industry, re- flecting the growing importance of open dialogue around the fu- ture direction of the sector. Further information about XCA and future initiatives can be found at: www.excellencein- construction.mt 7 maltatoday | SUNDAY • 24 MAY 2026 COMMERCIAL BOV's €300 million Senior Preferred Emtn Issue twice oversubscribed within hours BANK of Valletta has an- nounced the successful launch and execution of its €300 million calla-ble Senior Preferred Notes under its Euro Medium Term Note (EMTN) Programme, fol- lowing the opening of the books on Wednesday, 20th May 2026. The transaction marks the Bank's second benchmark issu- ance in the international capital markets and represents a further milestone in strengthening its diversified funding base. Build- ing on its long-standing position as Malta's largest financial insti- tution, the successful outcome reflects both the depth of its do- mestic franchise and its growing recognition among international institutional investors. The issu- ance was supported by Citi Bank and UBS acting as Mandated Lead Arrangers, underlining the Bank's strong and well-estab- lished partnerships with leading global financial institutions. The transaction attracted strong and high-quality inves- tor demand from both domes- tic and international accounts. The order book peaked at ap- proximately €0.8 billion (2.6x oversub-scription) and closed at around €0.6 billion (2.0x oversubscription), highlighting robust appe-tite for the Bank's credit and the strength of in- vestor confidence in its business model. The Notes were priced at a coupon of 4.467%, with pric- ing tightening from initial guid- ance fol-lowing a well-executed book-building process. This outcome reflects the Bank's solid credit fundamen- tals, resilient performance, and clear strategic direction. The successful execution further demonstrates the ability of the Bank to attract sustained in- terest from international insti- tutional investors, while main- taining strong support from the domestic market, built on long-standing relationships with Maltese busi-nesses and retail clients. The positive reception follows an extensive investor engage- ment programme, including Non-Deal and Deal Roadshows across key European markets, which provided an opportunity to present the Bank's strategy, financial performance, and for- ward-looking priorities. This issuance represents a sig- nificant achievement not only for Bank of Valletta but also for Malta's financial sector more broadly. The strong participa- tion from international inves- tors underscores Malta's contin- ued integration within European capital markets and enhances the visibility of the local banking sector on the international stage. The investor base was well-di- versified across high-quality institutional accounts. Asset Man-agers accounted for ap- proximately 65% of allocations, Private Banks 16%, Insurance and Pension Funds 9%, Hedge Funds 6%, and other investors 4%. Geographically, allocations were approximately distributed as follows: Germany, Austria & Switzerland 22%, France 22%, BeNeLux countries 20%, Greece & Italy 14%, United Kingdom & Ireland 13%, Domestic Accounts 6%, and other jurisdictions 3%. The Notes were offered ex- clusively to professional clients and eligible counterparties, with a minimum denomination of €100,000, in line with the Base Prospectus and market practice for institutional capital markets transactions. Commenting on the successful issuance, the Bank's Chairper- son and Chief Executive Officer highlighted: "This successful transaction reflects the strength of Bank of Valletta's franchise as Malta's leading financial institu- tion, underpinned by the trust of our domestic clients built over generations. At the same time, the strong participation from international institutional investors represents a clear en- dorsement of the Bank's strate- gy, financial resilience, and long- term prospects. The quality and diversification of the investor base achieved in this transaction demonstrate our continued abil- ity to access international capital markets on competitive terms, further strengthening our fund- ing profile and supporting the sustainable growth of our lend- ing and investment activities." The net proceeds from the issue will contribute to strengthening the Minimum Requirement for Own Funds and Eligible Liabil- ities (MREL) of the Bank and its subsidiaries, supporting regu- latory objectives while enabling continued growth in lending, in- vestment activities, and broader Group financing needs. The Notes are expected to be admitted to listing on the Of- ficial List and to trading on the Regulated Market of the Irish Stock Exchange plc, trading as Euronext Dublin, with effect from on or around the Issue Date. XCA Dialogues brings together industry leaders for national discussion on innovation