Back to Market News

Hili Finance plc – Basis of Acceptance and Allocation Policy

Nikki Pace Bonello

January 21, 2026

21 January, 2026
3 min read
21 January, 2026
3 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 20 January 2026, Hili Finance plc announced the basis of acceptance and allocation policy in relation to the offer of €60 million 5.0% unsecured bonds redeemable in 2033.

Hili Finance explained that it received a total of 4,714 applications for a total value of €82.6 million. As a result of the over-subscription, the offer was closed on 9 January 2026, ahead of schedule.

Hili Finance received 2,341 applications totalling €50.3 million from holders of Premier Capital plc bonds, of which €39.0 million represented applications by Premier bondholders to exchange their Premier bonds. In view that this exceeded the €32.5 million reserved for Premier bondholders, the company allocated the first €30,000 in bonds in full and 58.608% on the remaining amount rounded to the nearest €100.

There were 1,545 applications from other preferred applicants totalling €18.9 million. Therefore, the total preferred applicants’ pool amounted to €30.3 million, including the additional amounts applied for by Premier bondholders. Preferred applicants were allocated the first €5,000 in bonds in full and 29.399% on the remaining amount, rounded to the nearest €100.

Furthermore, Hili Finance received 828 applications from the general public amounting to €13.3 million, of which 75.399% were allotted rounded to the neared €100.

The company explained that refunds of unallocated amounts will be made by 27 January 2026. The new bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 27 January 2026 and trading is expected to commence on 28 January 2026.

Interest on the new bonds will start to accrue on 27 January 2026 and will be payable annually in arrears on 6 February, with the first interest payment (covering the period from 27 January 2026 up to and including 5 February 2027) payable on 6 February 2027.

Within 30 calendar days from the admittance of the bonds to listing, 3.75% Premier Capital plc 2026 bondholders surrendering their respective holdings will receive the 3.75% interest covering the period between and including 23 November 2025 and 26 January 2026.

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 20 January 2026, Hili Finance plc announced the basis of acceptance and allocation policy in relation to the offer of €60 million 5.0% unsecured bonds redeemable in 2033.

Hili Finance explained that it received a total of 4,714 applications for a total value of €82.6 million. As a result of the over-subscription, the offer was closed on 9 January 2026, ahead of schedule.

Hili Finance received 2,341 applications totalling €50.3 million from holders of Premier Capital plc bonds, of which €39.0 million represented applications by Premier bondholders to exchange their Premier bonds. In view that this exceeded the €32.5 million reserved for Premier bondholders, the company allocated the first €30,000 in bonds in full and 58.608% on the remaining amount rounded to the nearest €100.

There were 1,545 applications from other preferred applicants totalling €18.9 million. Therefore, the total preferred applicants’ pool amounted to €30.3 million, including the additional amounts applied for by Premier bondholders. Preferred applicants were allocated the first €5,000 in bonds in full and 29.399% on the remaining amount, rounded to the nearest €100.

Furthermore, Hili Finance received 828 applications from the general public amounting to €13.3 million, of which 75.399% were allotted rounded to the neared €100.

The company explained that refunds of unallocated amounts will be made by 27 January 2026. The new bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 27 January 2026 and trading is expected to commence on 28 January 2026.

Interest on the new bonds will start to accrue on 27 January 2026 and will be payable annually in arrears on 6 February, with the first interest payment (covering the period from 27 January 2026 up to and including 5 February 2027) payable on 6 February 2027.

Within 30 calendar days from the admittance of the bonds to listing, 3.75% Premier Capital plc 2026 bondholders surrendering their respective holdings will receive the 3.75% interest covering the period between and including 23 November 2025 and 26 January 2026.