‘Overwhelming’ response to €150 million bond issue ‘reflects confidence in BOV’ – Chairperson

Bank of Valletta Chairperson Gordon Cordina has hailed the “overwhelming” response to the bank’s latest bond offer – the largest ever to launch on the Maltese market – describing it as a clear sign of investor confidence in the institution.

“The overwhelming response to the bank’s offer has been remarkable and reflects the confidence that the bank enjoys in the investor market today,” Dr Cordina said.

“The response by both institutional and personal investors gives us confidence to continue our pursuit in strengthening the bank’s capital base and maintaining a robust balance sheet, all the while providing added value to all our stakeholders.”

The bank has now closed its €150 million 5 per cent unsecured subordinated bond issue, following strong uptake from investors.

Originally launched on Monday 9th June 2025 with an initial offer of €100 million, the bond was fully subscribed on day one.

BOV then exercised its €50 million over-allotment option, which was also entirely taken up.

The result is the largest corporate bond issue ever recorded on the Maltese market.

This issuance forms part of BOV’s €250 million unsecured euro medium term bond programme, approved by the Malta Financial Services Authority in October 2024. It is the second series to be issued under the programme.

CEO Kenneth Farrugia described the closure of the bond as a significant milestone:

“We are deeply encouraged by the market’s response and thank investors for their unwavering support. It reinforces our strong position as Malta’s Bank of Choice, and we remain determined to build on our successes and continue our journey towards further growth and excellence.”

Both the Chairperson and CEO also extended their thanks to the bank’s employees for their dedication, as well as to the authorised financial intermediaries for their active participation throughout the process. They also expressed their appreciation to the investors who contributed to what they described as a landmark achievement for the group.