Corinthia Finance plc - Details of New Bond Issue

Tuesday, March 22nd, 2016

On 22 March 2016, Corinthia Finance plc published a Prospectus in connection with the issuance of €40 million 4.25% bonds maturing in 2026. This bond is primarily being issued to finance the redemption of the €39.9 million 6.25% bonds which will mature on 24 September 2016. The new bonds are therefore mainly reserved for existing holders of the 6.25% bonds being redeemed on 24 September 2016 to whom preference will be given over new investors.

The salient details of the new bond issue are as follows:

Coupon:

4.25%

Amount Offered:

€40 million

Issue Price:

100% (par)

Interest Payment Date:

Annually on 12 April (first interest payment date is 12 April 2017)

Maturity:

The bonds will mature at 100% (par) on 12 April 2026.

Status:

The bonds constitute the general, direct, unconditional and unsecured obligations of Corinthia Finance plc and are guaranteed by CPHCL and shall at all times rank pari passu without any priority or preference among themselves and with other guaranteed debt.

Use of Proceeds:

The net proceeds from this bond issue, estimated at €39,575,000 after issuance costs, will be used by the Issuer to finance the redemption of the €39,927,600 6.25% bonds which will be redeemed on 24 September 2016. Any residual balance of the maturing bonds will be financed through the Group’s own cash resources.

Submission Deadline for Existing Bondholders:

Friday 8 April 2016 at 10:00 hours

Intermediaries Offer Deadline:

Tuesday 12 April 2016

This bond is mainly being earmarked for holders of the 6.25% Corinthia Finance plc 2016-19 bonds who have the option to convert their existing holding into the new bonds as well as apply for amounts in excess of their existing holding. As such, it is practically impossible for other investors to get an allocation given this preference to existing bondholders.

Minimum Application:

Applications for a minimum of €2,000 and in multiples of €100 thereafter.

Interested applicants are kindly requested to contact us for further information on the detailed application procedures.

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 issued by Corinthia Finance plc dated 18 March 2016 including the Risk Factors which are found in the Registration Document on pages 9 to 16 and in Section 2 of the Securities Note found on pages 8 to 9. Prospective investors are urged to consult an independent financial adviser for advice prior to investing in the Bonds.

Downloads:

Corinthia Finance plc – Summary Note dated 18 March 2016

Corinthia Finance plc – Registration Document dated 18 March 2016

Corinthia Finance plc – Securities Note dated 18 March 2016

Corinthia Finance plc – Financial Analysis Summary dated 18 March 2016

 

This webpage has been prepared based on the Prospectus issued by Corinthia Finance plc, 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.

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