International Hotel Investments plc – Application for a New Bond Issue

Jonathan Falzon

February 12, 2025

Market News
12 February, 2025
2 min read
Market News
12 February, 2025
2 min read

Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.

On 12 February 2025, International Hotel Investments plc announced that it has filed an application with the Malta Financial Services Authority requesting admissibility to listing of €35 million 5.30% unsecured bonds maturing in 2035.

The company explained that the new bonds will part-finance the redemption of the €45 million 5.75% unsecured bonds maturing on 13 May 2025. IHI stated that the net reduction in bond exposure reflects the request of the Board of Directors to reduce overall debt whilst maintaining focus on increasing profit contributions from underlying businesses, including the recently launched hotel operations in New York and Brussels and others which are expected to start operating in the next 12 months in Bucharest, Rome, and the Gulf.

Subject to regulatory approval, IHI will be giving preference to holders of the maturing bonds as at close of trading on 17 February 2025 to subscribe to the new bonds by surrendering the corresponding nominal value of bonds held. The maturing bonds will cease trading on the Malta Stock Exchange on 17 February 2025 until further notice.

Further details regarding the new bond issue will be published once regulatory approval is obtained.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

On 12 February 2025, International Hotel Investments plc announced that it has filed an application with the Malta Financial Services Authority requesting admissibility to listing of €35 million 5.30% unsecured bonds maturing in 2035.

The company explained that the new bonds will part-finance the redemption of the €45 million 5.75% unsecured bonds maturing on 13 May 2025. IHI stated that the net reduction in bond exposure reflects the request of the Board of Directors to reduce overall debt whilst maintaining focus on increasing profit contributions from underlying businesses, including the recently launched hotel operations in New York and Brussels and others which are expected to start operating in the next 12 months in Bucharest, Rome, and the Gulf.

Subject to regulatory approval, IHI will be giving preference to holders of the maturing bonds as at close of trading on 17 February 2025 to subscribe to the new bonds by surrendering the corresponding nominal value of bonds held. The maturing bonds will cease trading on the Malta Stock Exchange on 17 February 2025 until further notice.

Further details regarding the new bond issue will be published once regulatory approval is obtained.