- Bond Issue Oversubscribed

On 29 September, Melita Capital plc announced that its €25 million 7.15% bond issue was closed due to oversubscription. The issuer has the right to increase the total amount of the bond issue up to a maximum of €30 million. The allotment policy to be adopted is expected to be announced in the next few days.

The proceeds from this bond issue will be utilised to substitute outstanding bank project finance facilities amounting to approximately €7.5 million in respect of the laying and setting up of the submarine fibre optic cable between Malta and Sicily and to fund further capital expenditure associated with the expansion and development of Melita Mobile’s 3G mobile telephony network.

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