HSBC Bank Malta plc’s offer to the public of Lm20 million in subordinated bonds has been fully subscribed The 4.6 per cent bond issue received an excellent response, and as a consequence, the offer closed after only two hours.

The bank exercised its option to take on the Lm5 million over-allotment. Next week the bank will be announcing its allocation policy, to ensure a fair distribution of its bonds.

“The high demand for HSBC bonds confirms the regard and confidence that investors have in both HSBC Bank Malta and the HSBC Group,” said HSBC Bank Malta plc’s chief executive officer Shaun Wallis. “The board of directors thanks the public for supporting this offer in such a strong manner.” Rizzo, Farrugia & Co acted as sponsoring stockbrokers for this bond issue.