MeDirect Bank (Malta) plc has announced the issuance of €30 million 5.85% Unsecured Subordinated Bonds due 2031-2036, intended to qualify as Tier 2 capital instruments, each with a nominal value of €100 and issued at par.
The bonds will carry a fixed interest rate of 5.85% per annum, payable annually on 13 October each year (the first interest payment Date being 13 October 2027), and will mature on 13 October 2036. The Bank may redeem the bonds early on any date from the fifth anniversary of issue (13 October 2031) subject to regulatory approval and at least 30 days’ notice. The bonds are expected to be admitted to the official list of the Malta Stock Exchange by 13 October 2026, with trading expected to begin on 14 October 2026.
This bond issue is first being made available to holders of the Bank’s maturing 2017 and 2019 EUR/GBP Subordinated Bonds via an Exchange Offer and Priority Offer respectively and is not open to the general public yet.
Find out more details in the Prospectus
Business overview
MeDirect Bank (Malta) plc is a public limited liability company registered in Malta (company registration number C 34125) and licensed by the MFSA as a credit institution under the Banking Act. The company provides banking, investment and lending services to personal and business clients in Malta, and owns MeDirect Bank SA, a fully digital challenger bank in Belgium. MeDirect is a subsidiary of MDB Group Limited, which is ultimately majority owned by Banka CREDITAS (Czech Republic).
As of 30 June 2026, the Bank’s consolidated total assets stood at €5.8 billion, up from €5.3 billion at the end of 2025 and €5.1 billion at the end of 2024.
Use of proceeds
The funds raised will help strengthen the Bank’s Tier 2 Capital. Tier 2 capital is a layer of capital that helps a bank absorb losses and strengthen its financial position and Tier 2 Bonds form part of this because they are subordinated, meaning Bondholders take more risk than senior creditors if the Bank experiences financial difficulties.
Bond highlights
| Term | Detail |
| Issuer | MeDirect Bank (Malta) plc |
| ISIN | MT0000551326 |
| Amount | €30,000,000 |
| Coupon | 5.85% per annum |
| Issue Date | 13 October 2026 |
| Interest Payment Date | 13 October each year (first payment: 13 October 2027) |
| Maturity Date | 13 October 2036 (Early Redemption Date possible from 13 October 2031, subject to regulatory approval and 30 days’ notice) |
| Status | Tier 2 bonds. These are unsecured, subordinated bonds that rank behind depositors and other senior creditors if the Bank is wound up. They may also be written down or converted into another form of capital. |
| Denomination | €100 per bond |
| Listing | Malta Stock Exchange (Official List) |
| Minimum Subscription | €10,000 in nominal value, and multiples of €100 thereafter; applies to all applicants, including Existing Bondholders |
Subordinated Tier 2 Bonds require retail clients, including Existing Bondholders to complete a suitability test before applying.
Who is eligible to apply?
This bond issue is first being made available to holders of the Bank’s maturing existing bonds as at close of business on 31 August 2026 (trading session of 27 August 2026, the “cut-off date”), being:
EUR Bonds (eligible for the Exchange Offer and Top-Up):
- the 2017 EUR Bonds (€18,651,000 5% Subordinated Unsecured Bonds due 2027, ISIN: MT0000551284); and
- the 2019 EUR Bonds (€32,202,000 4% Subordinated Unsecured Bonds due 2029, ISIN: MT0000551300).
Eligible EUR Bondholders can exchange all or part of their existing holding(s) for the new bonds.
GBP Bonds (eligible for the Priority Offer):
- the 2017 GBP Bonds (£1,188,000 5% Subordinated Unsecured Bonds due 2027, ISIN: MT0000551292); and
- the 2019 GBP Bonds (£2,417,000 4% Subordinated Unsecured Bonds due 2029, ISIN: MT0000551318).
Eligible GBP bondholders can apply for the new bonds by making a cash subscription.
Any balance of new bonds not subscribed for by existing bondholders will be made available via an Intermediaries’ Offer, expected to run from 28 September to 30 September 2026. If applications from existing bondholders exceed €30,000,000, the Intermediaries’ Offer will not take place.
How to apply
There are no fees or charges for clients when applying for or subscribing to these Bonds.
Bondholders who hold their maturing bonds through a Calamatta Cuschieri Moneybase nominee account may submit their application during the offer period using any of the channels listed below.
Online
Email us or reach out to us via in-app live chat.
By phone
Call us on +356 25 688 688. Our ISO-certified Customer Support team is available 7 days a week.
In person / Advisory
Visit any of our branches in Mosta, Sliema, Birkirkara, or Fgura. Our advisors are available throughout the application period to assist you.
If your existing bonds are held directly on the Malta Stock Exchange (MSE), you will receive a pre-printed Existing Bondholder Application Form by post from the Issuer. To participate in the offer, the original signed Application Form must be submitted in person at any of our branches in Mosta, Sliema, Birkirkara, or Fgura.
Our ISO-certified Customer Support team is available 7 days a week. Get in touch via in-app live chat or by calling +356 25 688 688.
Calamatta Cuschieri Investment Services Limited is a member of the Maltese Investor Compensation Scheme. Instruments entrusted with us are covered under the Scheme in line with the Investor Compensation Scheme Regulations (S.L. 370.09).
The information contained in this article is provided strictly for information purposes and does not constitute, nor should it be interpreted as, an offer, invitation, recommendation or solicitation to buy, sell or subscribe to any financial instrument or investment product. The information presented may be amended without prior notice and does not constitute investment advice, investment research or a guarantee of future returns or performance.
Prospective investors are encouraged to read the applicable offering documentation in full before making any investment decision. Investors should be aware that investments in financial instruments involve risks, including the possible loss of part or all of the capital invested, particularly in the event of default, insolvency and/or bankruptcy of the issuer.
The financial instruments referred to herein are intended for retail clients; however, they may not be suitable or appropriate for all investors. Investors should make their own independent assessment and seek independent professional advice regarding the suitability and appropriateness of any investment, taking into account their individual investment objectives, financial situation and risk tolerance.
The value of investments and any income derived therefrom may fluctuate and can go down as well as up. Past performance is not a reliable indicator or guarantee of future performance. Where investments are denominated in a currency other than the investor’s base or reporting currency, changes in foreign exchange rates may adversely affect the value and/or returns of the investment.
Calamatta Cuschieri Investment Services Ltd, company registration number C13729, is licensed by the Malta Financial Services Authority to conduct investment services business under the Investments Services Act, Cap 370. The company is a subsidiary of Calamatta Cuschieri Moneybase plc and is registered at Level 0, Ewropa Business Centre, Dun Karm Street, Birkirkara BKR 9034, Malta.
