A e155 million syndicated term loan facility, arranged for Bank of Valletta by ING Bank N.V. and Sanpaolo IMI Bank Ireland plc, was signed on Monday at the Corinthia San Gorg Hotel.

The facility, fully underwritten by the Mandated Lead Arrangers, was originally launched at a level of e100 million, but was significantly oversubscribed to attract commitments in excess of the original amount underpinning the excellent reputation BOV enjoys among foreign investors. The bank, however, decided to scale it down to e155 million.

Tony Camilleri, Chief Officer, Financial Markets and Investments, appeared and signed on behalf of Bank of Valletta while Paolo Andrea Ricciardi and Charlotte Howell signed on behalf of the Mandated Lead Arrangers followed by the other participants signing on the facility, which included in alphanumerical order:

Mandated Lead Arrangers

ING Wholesale Banking; Sanpaolo IMI Bank Ireland plc

Lead Managers

Bank of Montreal Ireland plc; BayernLB; Erste Bank (Malta) Limited; KBC Bank NV Dublin Branch; HSH Nordbank; Landesbank Baden-Württemberg, London Branch; Lloyds TSB Bank plc; Raiffeisen Zentralbank Österreich Aktiengesellschaft; Wachovia Bank, National Association.

Arrangers

Dresdner Bank AG

Co-Arrangers

American Express Bank GmbH; Banco Popolare di Verona e Novara S c r l London Branch; Banque et Caisse d’Epargne de l’Etat, Luxembourg; JPMorgan Chase Bank, NA; Landesbank Saar; Societe Generale Corporate & Investment Bank; Unicredit.