HSBC Bank Malta plc’s offer to the public of e25 million in subordinated bonds has been fully subscribed.

The 5.9 per cent bond issue received an excellent response, and as a consequence, the offer closed on the first day.

The bank exercised its option to take on the e5 million over-allotment.

The bank will in the coming days be announcing its allocation policy, ensuring a fair distribution of its bonds.

“We are very pleased with the results of the Bond Issue, and the high demand for HSBC bonds confirms the regard and confidence that investors have in both HSBC Bank Malta and the HSBC Group as a whole,” said HSBC Bank Malta plc’s chief executive officer, Alan Richards.

“The proceeds of the bonds will be used to help support future growth by HSBC in Malta.”

Charts Investment Management Service Ltd acted as sponsoring stockbrokers for this bond issue.