6.25% CORINTHIA FINANCE PLC 2016-2019
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| Corinthia Finance plc - Prospectus 28 August 2009 | |
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 bond proceeds were mainly used to redeem the €19.4 million 6.7% Corinthia Finance plc 2009 bond which matured on 30 October 2009. The remaining bond issue proceeds will enable the parent company and guarantor to continue investing in its various business opportunities in line with its further expansion.
Security & Status
Unsecured & Unsubordinated
Guarantor
Corinthia Palace Hotel Company Limited (CPHCL)
Coupon
6.25%
Amount Issued
€25,000,000
ISIN Code
MT0000101239
Maturity
The bonds will mature at par (100%) on 22 September 2019 but may be redeemed early on any date between 24 September 2016 and 22 September 2019, by giving not less than 30 days notice.
Interest Payment
Annually on 22 September
XD Date
9 September
Listing
Official List
No. of Bondholders
3,607
Directors
Joseph Fenech, Anthony R. Curmi, Frank Xerri de Caro, Joseph J Vella.


