Izola Bank plc - Details of New Bond Issue

On 20 May 2015, Izola Bank plc published a Prospectus dated 18 May 2015 in connection with a new €12 million bond issue. Izola Bank plc is offering a preferential allocation to holders of the 5.35% Izola Bank plc 2015 Notes (“Maturing Notes”). The salient details of the new Bond issue are as follows:

Coupon:

4.5%

Amount Offered:

€12 million

Issue Price:

100% (par)

Interest Payment Date:

Annually on 30 June (first interest payment date is 30 June 2016)

Maturity:

The bonds will mature at 100% (par) on 30 June 2025.

Status:

The Bonds constitute the general, direct, unconditional and unsecured obligations of the Issuer and shall at all times rank pari passu, without any priority or preference among themselves and with other unsecured debt.

Use of Proceeds:

The new €12 million bond issue is earmarked to fund the redemption of the €9 million 5.35% Notes which mature on 30 June 2015 as well as to meet part of the Bank’s general financial requirements.

Deadline for Holders of Maturing Notes:

Friday 05 June 2015 at 08:30 hrs with applications for a minimum of €1,000 and in multiples of €100 thereafter.

Listing:

Official List of the Malta Stock Exchange

Disclaimer:

The value of investments may increase as well as decrease and past performance is not an indication of future performance. Prospective investors are urged to read the Prospectus including the Risk Factors contained in section 2 of the Registration Document and Securities Note. Prospective investors are urged to consult an independent financial adviser for advice prior to investing in the Bonds.

Downloads:

Izola Bank plc – Prospectus dated 18 May 2015

 

This webpage has been prepared based on the Prospectus issued by Izola Bank plc dated 18 May 2015, and no representations or guarantees are made by Rizzo, Farrugia & Co. (Stockbrokers) Ltd with regard to the accuracy of the data. This webpage is for information purposes only. It is not intended to be and should not be construed as an offer or solicitation to acquire or dispose of any of the securities or issues mentioned herein. Rizzo, Farrugia & Co. (Stockbrokers) Ltd accepts no responsibility or liability whatsoever for any expense, loss or damages arising out of, or in any way connected with, the use of all or any part of this webpage.