Mediterranean Investments Holding plc – Issue and redemption of bonds

Mediterranean Investments Holding p.l.c. (the “Company”) hereby announces that the Board of Directors has resolved to redeem the €28,519,400 7.15% EUR denominated bonds 2015-2017 (ISIN: MT0000371238), the £4,351,100 7.15% GBP denominated bonds 2015-2017 (ISIN: MT0000371246), and the $7,120,300 7.15% USD denominated bonds 2015-2017 (ISIN: MT0000371253), (collectively, the “Maturing Bonds”) on 6 July 2017 in accordance with the terms of the prospectus dated 14 June 2010.  

Furthermore, the Board of Directors of the Company announces that it has submitted an application to the Listing Authority of the Malta Financial Services Authority requesting the admissibility to listing of €40,000,000 5.0% Mediterranean Investments Holding p.l.c. Unsecured Bonds 2022 to be issued at par and guaranteed by Corinthia Palace Hotel Company Ltd (the “Bonds”).

Subject to the Listing Authority granting its approval to admissibility to listing of the Bonds on the Official List of the Malta Stock Exchange and subject to their effective admission, the net proceeds from the Bonds will be used to redeem the Maturing Bonds.

The Company will be granting preference to holders of the Maturing Bonds to subscribe to the Bonds by surrendering their Maturing Bonds. The Company therefore announces that the Cut-off Date for such eligibility shall be 26th May 2017 (with the last trading date being on 24th May 2017). Trading in the said Maturing Bonds shall be suspended as from 25th May 2017.

Further detailed information on the Bonds will be available after the issue of the necessary approvals by the Listing Authority. 

To view the official company announcement, click here.