MeDirect Bank (Malta) plc - Details of New Bond Issue
On 15 September 2010 Mediterranean Bank plc announced a new €15 million bond issue. The bonds carry a coupon of 6.25% per annum and have a final maturity date of 30 October 2015.
Coupon:
6.25%
Amount Offered:
€15 million
Issue Price:
100% (par)
Interest Payment Date:
Annually on 30 October
Maturity:
The bonds will mature at 100% (par) on 30 October 2015
Use of Proceeds:
The proceeds raised will be used for the general corporate and investment purposes of the Bank and may include the following without any priority between the same:
a) to grow its investment portfolio in line with its investment strategy by investing in additional investment grade securities;
b) to refinance the Issuer’s general liabilities as they become due;
c) to enhance the Issuers’ available liquidity
Status & Security:
Unsecured
Listing:
Official List of the Malta Stock Exchange
Pre-placement Date:
7 October 2010
General Offer Period:
11 October 2010 to 15 October 2010
Minimum Application for bonds:
Pre-placement: Minimum of €1,000
General Public: €1,000 and in multiples of €100 thereafter.
Downloads:
Mediterranean Bank plc – Prospectus dated 13.09.2010
Mediterranean Bank plc – Authorisation to Apply Form – Sep 2010