4.80% MED. MARITIME HUB FINANCE PLC 14.10.2026

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Mediterranean Maritime Hub Finance plc - Prospectus dated 16 September 2016

The Company

Mediterranean Maritime Hub Finance plc (the Issuer) was incorporated on 26 July 2016 to serve as a financing company for Ablecare Oilfield Services Holdings Limited (the Guarantor) and its subsidiaries. The funds raised by the Issuer are being used to finance the Group’s future projects, principally the rehabilitation of the former Malta Shipbuilding site in the Grand Harbour into the Mediterranean Maritime Hub, together with other new opportunities arising in the market.

The Issuer is not intended to undertake any trading activities itself apart from the raising of capital and the advancing thereof to members of the Group. Accordingly, the Issuer is principally economically dependent on the financial and operating performance of the Guarantor and its subsidiaries which operate in the marine, oil and gas services sectors. The Group mainly provides manpower planning, project recruitment, contracting of pre-screened and qualified personnel for the offshore/onshore oilfield industry, training, logistics, supply chain solutions, project management, rig agency services as well as rig stop services and facilities.

Use of Proceeds

The net proceeds from the bond issue, estimated at circa €14.55 million after issuance costs, are for the following purposes:

  • €6.5 million for the dredging of the inner sea area adjacent to the Mediterranean Maritime Hub;
  • €1.6 million to repay short term bank facilities;
  • €3.45 million to fund infrastructural improvements at the Mediterranean Maritime Hub; and
  • €3.0 million to finance the procurement of plant and machinery and other preliminary expenses relating to the project.

Guarantor

Ablecare Oilfield Services Holdings Limited

Status

The Bonds shall constitute the general, direct, unconditional and unsecured obligations of the Issuer and shall be guaranteed in respect of both the interest and the principal amount due under said Bonds by the Guarantor, and shall at all times rank pari passu, without any priority or preference among themselves and with other outstanding and unsecured debt of the Issuer and Guarantor, present and future. The Bonds will, however, rank subordinate to the present and future secured creditors of the Issuer and the Guarantor, if any.

Coupon

4.80%

Amount Issued

€15,000,000

ISIN Code

MT0001241208

Maturity

The bonds will mature at 100% (par) on 14 October 2026.

Interest Payment

Annually on 14 October

XD Date

29 September

Listing

Official List

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