- Application for New Bond Issue

On 22 October, Mizzi Organisation Finance plc announced that it has formally submitted an application to the Listing Authority with respect to a proposed new €25 million bond issue. The new Bonds will mature in 2019 but may be reedemed earlier between 2016 and 2019. The issue will also be subject to an over-allotment option of a further €5 million. The Bonds will be guaranteed by Mizzi Holdings Limited, Consolidated Holdings Limited, Kastell Limited and General Soft Drinks Co. Ltd.

Subject to the granting of approval and the effective admission thereof, the Bond proceeds will primarily be used for the redemption of the existing 6.7% Mizzi Organisation Finance plc Bonds 2009 – 2012. Any remaining funds will be used to refinance any of the Guarantors existing Bank facilities.

In the announcement Mizzi Organisation Finance plc indicated its intention to give preference to the existing Bondholders who are willing to surrender their current holding in favour of a holding in the new Bonds. In this respect, the Board of Directors announced that Bondholders as at the close of trading on 27 October will be entitled to this preferential treatment. Trading in the existing 6.7% Bonds will be suspended as from 28 October. Preference will also be given to the Mizzi Family and all Directors and employees of the Mizzi Organisation.

Further details on this new Bond issue, subject to the necessary approvals, will be available in a prospectus.

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