6.75% CORINTHIA FINANCE PLC 2012

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Corinthia Finance plc - Prospectus 11th March 2002

The Company

Corinthia Finance plc was set up to act as a finance company for the Corinthia Group and is a fully owned subsidiary of Corinthia Palace Hotel Co. Ltd.

The Corinthia Group, of which Corinthia Palace Hotel Company Ltd is the mother company, holds a 50% shareholding in Mediterranean Investments Holding plc and is the majority shareholder of International Hotel Investments plc. Corinthia Group started its commercial activities in 1960 with the acquisition of an art nouveau villa in Attard, Malta. It now owns or manages 16 hotels in nine countries, and operates extensively in construction and project management in a number of countries in Europe and North Africa.

The Corinthia Group is organised into five business units, each of which plan and implement well-defined strategies driven by the objective of continued growth, furtherance of their core interests and ongoing profit optimisation. These five business units are organised within the following corporate structures:

  • Investment and acquisition of prime site hotel real estate – International Hotel Investments plc (IHI)
  • Development of prime residential complexes, commercial and retail centres – Mediterranean Investments Holding plc (MIH)
  • Management of upscale hotels – CHI Ltd
  • Construction and project management services – QPM Ltd
  • Industrial catering – Flight Catering Company Ltd.

Use of Proceeds

The net proceeds from the bond issue have been advanced to the guarantor, Corinthia Palace Hotel Co. Ltd., for general corporate funding purposes aimed at further consolidating and strengthening the Corinthia Group’s position in a number of business units. The funds enabled the Group to further develop business opportunities arising from its continued international expansion. These included capital expenditure programmes for the refurbishment and upgrading of a number of existing hotel properties and hotel construction projects. Part of the funds supported the enhancement of facilities of the Tripoli Hotel Project and in particular upgrade the standard of the commercial centre component of this development which is being leased to third parties. Furthermore, part of the funds enabled the Group to further consolidate and organise the Group’s construction unit in Libya, with a view to participating in the country’s ambitious infrastructure development programme. Funds were also utilised to enable the more efficient management of the Group’s cash resources and corporate treasury operations.

Security & Status

Unsecured & Unsubordinated

Guarantor

Corinthia Palace Hotel Company Limited (CPHCL)

Coupon

6.75%

Amount Issued

€14,644,885

ISIN Code

MT0000101213

Maturity

The bonds will be redeemed at 100% (par) on 8 April 2012

Interest Payment

Semi-annually on 8 April and 8 October

XD Dates

24 March and 24 September

Listing

Official List

No. of Bondholders

2,169

Directors

Joseph Fenech, Anthony R. Curmi, Frank Xerri de Caro, Joseph J Vella.

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