On 30 October 2009, Mizzi Organisation plc announced a €25 million bond issue at a coupon of 6.2% per annum. The bonds have a final maturity date of 30 November 2019 but may be redeemed anytime between 30 November 2016 and 30 November 2019. The Issuer also reserves the right to increase the amount up to a further €5 million in the event of over-subscription.
€25,000,000 (with an over-allotment option of up to a further €5,000,000).
Mizzi Applicants: 97.50%
2002 Bondholders: 100%
General Public: 100%
Semi-Annually on 31 May and 30 November.
The bonds will be redeemed at 100% (par) on 30 November 2019.
Joint and several guarantee by Mizzi Holdings Ltd, Kastell Ltd, Consolidated Holdings Ltd and The General Soft Drinks Company Ltd.
Subscription date for Mizzi Applicants & 2002 Bondholders
Thursday 19 November 2009
Friday 20 November 2009
General Public Offer Period
Monday 23 November 2009 to Friday 27 November 2009 (or earlier at the Issuer’s discretion)
Minimum application for bonds
Preplacement Stage: €10,000 and in multiples of €100 thereafter
General Offer Stage: €2,000 and in multiples of €100 thereafter.
Official List of the Malta Stock Exchange
Use of Proceeds
The Issuer has reserved €24 million from this bond issue of €25 million (or €30 million if the allotment option is exercised) for existing 2002 Bondholders who accept the exchange offer being made to them. The remaining net proceeds from this bond issue will be used to redeem on 31 May 2010 any 6.7% Bonds which were not surrendered during this exchange offer and to partly refinance some bank borrowings of the guarantors to this bond issue.
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