5.75% MARINER FINANCE PLC 2008/2010

The Company

Mariner Finance plc, which is a fully owned subsidiary of the Guarantor, Mariner S.p.A., was set up as a finance company for the Mariner Group. Mariner S.p.A. is the parent company of the Mariner Group and is principally an investment and holding company with diversified interests in the operation of seaport terminals outside Malta. The business of the Mariner Group involves the operation of a container terminal in Riga, Latvia and the operation of a container/general cargo terminal in Venice, Italy. In Riga, Mariner S.p.A. is the owner of 100% of the equity capital of SIA Baltic Container Terminal, whereas in Venice, Mariner S.p.A. is currently the owner of 50% of the equity capital of Terminal Intermodale Venezia S.p.A. (TIV). The other TIV shareholder is Marinvest S.r.l., holding the remaining 50% of the issued share capital. Marinvest S.r.l. is an Italian company wholly owned by the Mediterranean Shipping Company (MSC). MSC is one of the world’s leading providers of direct port calls.

Use of Proceeds

The proceeds from the bond issue were advanced to Mariner S.p.A. for funding the acquisition of 50% in Terminal Intermodale Venezia S.p.A. (€8 million) and for the early settlement of the remaining balance due in respect of the acquisition of Baltic Container Terminal (€5 million).

Security & Status

Unsecured & Unsubordinated


Mariner S.p.A.



Amount Issued





The Bonds will be redeemed at 100% (par) on either 15th July 2008, 15th July 2009, or 15th July 2010.

Interest Payment

Annually on 15 July

XD Date

01 July


Official List


Marin Hili, Joseph Hili, Carmelo Hili, Richard Abdilla Castillo, Lawrence Zammit

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