Izola Bank plc – New Bond Issue

The Board of Directors of Izola Bank plc announced that it has submitted an application to the Listing Authority of the MFSA requesting the admissibility to listing of €12m in bonds redeemable in 2025 (New Bonds).

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

(i) for the purpose of purchasing the €9m 5.35% Izola Bank plc Secured Notes due on June 30, 2015 (Maturing Notes) from Existing Noteholders for cancellation; and

(ii) to meet part of its general funding requirements.