MeDirect closes €30 million bond offer early

€30 million subordinated bond fully subscribed

MeDirect Bank (Malta) plc‘s recent €30 million 5.85% unsecured subordinated bond issue due 2031-2036 has been oversubscribed by existing bondholders, prompting the bank to cancel the planned Intermediaries’ Offer.

The bonds, which have a nominal value of €100 each, were offered at par under a prospectus dated 31 August 2026.

Intermediaries’ Offer cancelled

The bank announced on 25 September that demand from existing bondholders exceeded the amount of bonds available under the offer. As a result, the offer closed as scheduled at 10:00 a.m. on 25 September and the Intermediaries’ Offer, which had been scheduled to take place if bonds remained available, will no longer proceed.

Since applications exceeded the available €30 million, allocations will be scaled down. MeDirect will publish details of its allocation policy once the process has been finalised.

Trading expected to begin on 14 October

According to the bank, a scaling-down process will now be carried out in accordance with the rospectus, with an allocation policy announcement expected on 6 October 2026. Admission of the new bonds to the Official List of the Malta Stock Exchange is expected on 13 October 2026, while trading is expected to commence on 14 October 2026

The offer was initially made available to existing holders of MeDirect’s outstanding euro- and sterling-denominated subordinated bonds through exchange and priority offers. Existing euro bondholders were given the opportunity to exchange their holdings into the new issue, while sterling bondholders were granted priority access through cash subscriptions.

MeDirect classified the announcement as containing inside information under the Market Abuse Regulation (EU) No 596/2014.