Corinthia Finance plc – 4.25% Corinthia Finance p.l.c. Unsecured Bonds 2026 – Allocation policy

Corinthia Finance p.l.c. announced the basis of acceptance for the issue of €40,000,000 4.25% Corinthia Finance p.l.c. Unsecured Bonds 2026 (the “Bonds”). Applications amounting to €62.55 million were received by the Company from holders of €39.93 million 6.25% Corinthia Finance p.l.c. bonds 2016-2019 (the “Exchangeable Bonds”). Such holders were given preference to subscribe to the Bonds by surrendering their respective Exchangeable Bonds, subject to a minimum subscription amount of €2,000. Furthermore, holders of Exchangeable Bonds were also given the option to apply for additional Bonds. 

As the above mentioned Bond Issue was over-subscribed, the Intermediaries’ Offer was cancelled.

Exchangeable Bonds transferred to the Company in exchange for Bonds amounted to €33.41 million and will be allocated in full. As to the remaining balance of Bonds amounting to €6.59 million, the Company will be satisfying the first €2,000 of subscriptions for additional Bonds and will allocate a further 5.975% of the remaining balance of all such applications. All amounts being allocated have been rounded to the nearest €100.

In accordance with the Prospectus dated 18 March 2016, interest on the Bonds commenced as from 12 April 2016 and refunds of unallocated monies will be made by 21 April 2016. The Bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 21 April 2016 and trading is expected to commence on 22 April 2016. Furthermore, it is expected that the Exchangeable Bonds will resume trading as from 22 April 2016 and shall be redeemed on 24 September 2016.