BOV to tap international capital markets

The MSE equity price index extended Thursday's sharp drop as it retracted by a further 0.26% to 3,607.079 points.

The declines in the share prices of Hili Properties and Mapfre Middlesea offset the uplift in APS whilst a further four companies traded unchanged.

Most of Friday's trading activity amounting to €0.1 million took place in the equity of GO plc which remained at the €3.04 level across 26,950 shares having a market value of €0.08 million.

Among the large companies by market value, Bank of Valletta plc stayed at the 86c level albeit on just 1,030 shares.

On Friday, BOV announced that it has been granted regulatory approval in respect of a base prospectus for the issuance of a medium-term programme of notes of up to €500 million.

An application will be made for the notes to be admitted to the official list and to trading on the regulated market of the Irish Stock Exchange.

BOV explained that the net proceeds will be used to further strengthen the MREL and/or capital base of the bank and/or its subsidiaries as well as for general financing purposes.

Reaching such MREL level will allow BOV to increase its lending book and expand the investment horizon of its proprietary...