Eden Finance plc – Basis of Acceptance of New Bond Issue

April 28, 2017
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

 Eden Finance p.l.c. is pleased to announce the allocation policy to be applied to applications received in respect of the Bonds pursuant to a Prospectus dated 27 March 2017 (the “Prospectus”).

The Company received a total of 1,565 Applications (including Applications under nominee) totalling €43,264,200, made up as follows (categories of investors specified below are as defined in the Prospectus):

(a) Placing Arrangements

The Company entered into conditional placement agreements with three Authorised Financial Intermediaries for the subscription of an aggregate amount of €24,000,000 in Bonds which were made up of 503 underlying Applications;

(b) Eden Group Stakeholders

An amount of €1,000,000 in Bonds, was reserved for subscription by Eden Group Stakeholders. 11 Applications for a total value of €1,000,000 were received from this category of investors and therefore, all Applications were met in full;

(c) Existing Bondholders

1,051 Applications for a total value of €18,264,200 were received for the €15,000,000 in Bonds reserved by the Company for Existing Bondholders. Total Exchangeable Bonds transferred to the Company in exchange for Bonds amounted to €11,505,000, representing 82.27% of the Exchangeable Bonds, which amounts were allocated in full. With respect to the remaining €6,759,200, the Company will be satisfying 51.03% on the additional Bonds applied for by Existing Bondholders rounded to the nearest €100.

 

Interest on the Bonds commences as from today 28 April 2017 and refunds of unallocated monies with respect to Existing Bondholders will be made by 8 May 2017. The Bonds are expected to be admitted to the Official List of the Malta Stock Exchange on 8 May 2017 and trading is expected to commence with effect from 9 May 2017.

 

 

The Company also announces that the 6.6% Eden Finance p.l.c. Bonds 2017-2020 (ISIN: MT0000141219) will resume trading as from 9 May 2017. Eden Finance p.l.c. would like to thank the investing public and the Authorised Financial Intermediaries for their support on this Bond Issue. 

 

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