Mediterranean Investments Holding plc – Basis of acceptance for Bond Issue

Mediterranean Investments Holding p.l.c. (the ‘Issuer’) is pleased to announce the basis of acceptance for the issue of €20,000,000 5.5% Unsecured Bonds 2020. As announced in a previous Company Announcement dated 20th July 2015, the Bond Issue was oversubscribed at the time of closing of the Issue Period.

The Issuer received an aggregate of €16,359,600 from Maturing Bondholders, (including the additional amounts from Maturing Bondholders to meet the minimum application requirement of €2,000). This represents a roll-over rate of approximately 83% of the Maturing Bonds. Such amounts are being allocated in full.

Additional applications were received from Maturing Bondholders for an amount of €13,610,000 over and above their existing holding as at the Cut-off Date. As a result, the remaining balance available for subscription amounting to €3,640,400, will be allocated on a pro-rata basis, resulting in an allotment of 26.745% of the additional amounts applied for, rounded to the nearest €100.

In view that the Bond Issue was oversubscribed by the Maturing Bondholders, in terms of the allocation policy as outlined in the Prospectus dated 1st July 2015, no allocations will be made to holders of Existing MIH Bonds, holders of Existing Corinthia Finance Bonds and holders of Existing IHI Bonds.

Refunds of unallocated monies will be paid by 27th July 2015 and interest on the new Bonds will commence on 31st July 2015. The Bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 31st July 2015 and trading is expected to commence on 3rd August 2015.

To view the official Company Announcement, click here.