On 28 August 2009, Corinthia Finance plc announced a €20 million bond issue at a coupon of 6.25% per annum. The bonds have a final maturity date of 22 September 2019 but may be redeemed anytime between 23 September 2016 and 22 September 2019. The Issuer also reserves the right to increase the amount up to a further €5 million in the event of over-subscription.The bonds are guaranteed by Corinthia Palace Hotel Co Ltd, the parent company of the Corinthia Group.
€20,000,000 (with an over-allotment option of up to a further €5,000,000).
Annually on 22 September.
The bonds will be redeemed at 100% (par) on 22 September 2019.
Tuesday 15 September 2009
Friday 18 September 2009 (or earlier at the Issuer’s discretion)
Minimum application for bonds
General Offer Stage: €1,000 and in multiples of €100 thereafter.
Official List of the Malta Stock Exchange
Use of Proceeds
The bond proceeds will be mainly used to redeem the exiting 6.7% Corinthia Finance plc 2009 bond which matures on 30 October 2009. The remaining funds will be passed on to the Guarantor to enable the Corinthia Group to further develop business opportunities arising from its continued expansion.
Corinthia Palace Hotel Co. Ltd
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