On 23 September Corinthia Finance plc announced the allotment policy with respect to its recent €20 million 6.25% 2016 – 2019 bond issue. The company received a total of €34.1 million and as a result of the oversubscription it exercised the overallotment option and increased the bond issue to €25 million.
1,614 applications totalling €14 million were received from holders of the 6.7% bonds maturing on 30 October 2009, representing 72% of the total value of the maturing bond. The Company stated these applications will be met in full.
Meanwhile Corinthia Finance also stated that it received a further 2,606 applications for a total value of €20.1 million from new investors. In view of the over subscription, Corinthia announced that the first €5,000 will be met in full whilst it will allot 11.42% of the next €45,000 and 5% of the remaining balance.
Interest on these bonds starts accruing from today. Allotment letters and refunds will be processed by Thursday 24 September. The new 6.25% bonds will shortly be admitted to the Official List of the Malta Stock Exchange.