On 30 September, FIMBank plc announced that it has submitted an application to the Listing Authority for an issue of 4.25% 2013 Bonds denominated in both EUR and USD. The amount on offer will be equivalent to €25 million with an over-allotment option of a further €10 million equivalent.
The Bonds will be offered to the General Public at par. However, preferred applicants (namely shareholders, bondholders, Directors and employees as at 30 September), can subscribe to these bonds at the preferential price of 99% representing a 1% discount to the par value. Moreover preferred applicants will be given preferential allocation, details of which will be announced in due course.
Subject to approval by the MFSA, the proceeds from this Bond Issue will be used to provide funding for the longer-term international trade finance business of the FIMBank Group.