International Hotel Investments plc - Issue & Early Redemption of Bonds

Friday, November 11th, 2016

On 11 November, International Hotel Investments plc (IHI) announced that it submitted an application to the Listing Authority of the Malta Financial Services Authority requesting the admissibility to listing of €40 million in new unsecured bonds maturing in 2026 (the “new Bonds”).

Subject to IHI obtaining regulatory approval of the issue of the new Bonds, IHI and its wholly-owned subsidiary Island Hotels Group Holdings plc (IHG) will exercise the option of redeeming the following two bonds on their respective first early redemption date: (i) the 6.25% IHI plc 2017/20 on 9 April 2017; and (ii) the 6.5% IHG 2017/19 on 1 July 2017 (the “exchangeable bonds”).

IHI will be granting existing bondholders of the exchangeable bonds as at close of trading on 15 November 2016 preference to subscribe for the new Bonds by surrendering the corresponding nominal value of the exchangeable bonds in favour of IHI. Bondholders of the exchangeable bonds will also have preference to subscribe for new Bonds in excess of the amount corresponding to their holding of exchangeable bonds, subject to availability.

Trading in the exchangeable bonds will be suspended as from 16 November 2016. IHI will provide further information on the issue of the new bonds after the issue of the necessary approval by the Listing Authority.

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