News Details

First issue of bonds by APS Bank listed on the Malta Stock Exchange

19/11/2020 13:30:00

 

 

APS Bank announces the issue of €55,000,000 3.25% Unsecured Subordinated Bonds due 2025-2030 (the “Bonds”) pursuant to a Prospectus dated 2 November 2020. The Bank is furthermore pleased to inform that as prescribed by the Prospectus and as defined and detailed therein, all Bonds have been fully pre-allotted with participating Authorised Intermediaries, with preference on allotment being given to the Preferred Applicants.

Interest on the Bonds at the rate of 3.25% per annum on the nominal value thereof commences today 19 November 2020 and shall be payable annually in arrears on each anniversary, with the first interest payment falling due on 19 November 2021. The Bonds were admitted to trading on the Official List of the Malta Stock Exchange today 19 November 2020, and trading may commence from 20 November 2020.

The Directors are delighted to note the successful completion of another stage of the Capital Development Plan which the Bank launched in 2017 in support of its growth strategy and wish to thank the investors and participating Authorised Financial Intermediaries for the confidence expressed in the Bank and for the support shown towards its first bond issue. Special thanks also go to the Bank’s staff who worked on this project, as well as the appointed Sponsor & Manager - Rizzo, Farrugia & Co (Stockbrokers) Ltd., the Registrar – Malta Stock Exchange plc and the Legal Counsel - Ganado Advocates.

A copy of the Prospectus can be accessed on this link: https://www.apsbank.com.mt/investor-information.

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APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.