MeDirect Bank CEO calls bond oversubscription a ‘clear vote of confidence’

MeDirect CEO Jean-Claude Maher has described the strong demand for the bank’s recent €30 million bond issue as a “clear vote of confidence” in its strategy and future direction.

“This strong level of demand is a clear vote of confidence in MeDirect’s strategy and future direction. We are grateful to all investors who chose to participate in this bond issue and place their trust in our vision,” Mr Maher said.

He thanked all investors who participated in the issue for their continued confidence and support.

MeDirect Bank announced that its 5.85 per cent unsecured subordinated bonds, maturing between 2031 and 2036, were oversubscribed by existing bondholders.

The bonds have a nominal value of €100. The bank said that, due to the strong demand, the intermediaries’ offer will not proceed.

MeDirect said it supports individuals through daily banking services, savings products and investment opportunities, while also providing a growing range of corporate banking and financial services to Malta’s business community.