Mediterranean Investments Holding plc - Application for a New Bond Issue

On 22 June 2020, Mediterranean Investments Holding plc announced that it filed an application with the Listing Authority of the Malta Financial Services Authority requesting admissibility to listing of €20 million 5.5% unsecured bonds redeemable in 2023 to be issued at par and guaranteed by Corinthia Palace Hotel Company Limited. Subject to the Listing Authority’s approval, the net proceeds from the new bonds will be used to redeem the 5.5% unsecured bonds which are due to mature on 31 July 2020.

MIH will be giving preference to holders of the maturing bonds as at close of trading on 23 June 2020 to subscribe to the new bonds by surrendering their maturing bonds subject to a minimum application of €1,000 and in multiples of €100 thereafter. The balance of the new bonds not subscribed for by holders of the maturing bonds will be made available for subscription to: (i) holders of the maturing bonds in respect of any additional new bonds applied for; and (ii) holders of bonds issued by any company forming part of the Corinthia Group as at close of trading on 23 June 2020, namely Mediterranean Investments Holding plc, Corinthia Finance plc and International Hotel Investments plc. Furthermore, in the event that any new bonds will remain unallocated, MIH will offer such remaining unallocated new bonds through an Intermediaries’ Offer.

Trading in the maturing bonds will be suspended as from 24 June 2020. Once regulatory approval is obtained, full details of the new bonds will be provided in a Prospectus that will be made available on MIH’s website or via Authorised Financial Intermediaries.