Baystreet executes bond buy-back at 102%

Following last Wednesday’s announcement that Baystreet Finance plc received Acceptance Forms totalling €3,676,841 from Bondholders, this morning the Company executed this bond buy-back through a special trade on the Malta Stock Exchange. The bonds will subsequently be cancelled and bondholders today should have received their capital at 102% and the respective interest accrued.

Also on the bond market, further high volumes reaching €150,000 (nominal) were transacted in the recently listed 6.25% Mediterranean Bank plc 2015. The price of this bond remained unchanged at the 100.5% level.

On the local equity market, the MSE Share Index lost further ground during this morning’s session (-0.7% to 3,466.334 points) mainly due to the 1.7% drop in HSBC Bank Malta plc to the €2.89 level across 16,450 shares. Meanwhile Bank of Valletta plc held on to the €3.68 level on volumes of over 11,600 shares.

The Index was also negatively impacted by a 0.8% decline in the share price of International Hotel Investments plc to €0.76. A single trade pushed Lombard Bank Malta plc into negative territory for the second successive session as it shed another 1.6% to close at the €2.53 level. A last minute trade in the Bank’s postal subsidiary, forced MaltaPost plc’s share price to close 2.1% lower from its 2010 high to the €0.93 level.

GO plc edged 0.5% to regain the €1.91 level on increased volumes of over 16,800 shares. Meanwhile Forthnet this afternoon announced that one of its three largest shareholders Cyrte Investments GP I B.V. last week purchased 7.3 million shares at a price of €0.36 per share. Over the past two weeks almost 30 million Forthnet shares traded representing 19.1% of the total issued share capital of the Greek telecoms operator. Last Friday alone there was a single trade of over 14.1 million shares.

FIMBank plc also edged 2.2% higher this morning to recoup the US$0.95 level on significant volumes amounting to 74,389 shares with lowest offers now placed at the US$0.975 level.

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