FIMBank plc - Details of New Bond Issue

Herewith details of the new FIMBank plc bond issue:

Coupon:

4.25%

Amount Offered:

A combined aggregate amount of €25 million equivalent.

Over-allotment Option:

A combined aggregate amount of up to €10 million equivalent.

Issue Price & YTM:

100% (par) giving a yield to maturity of 4.25% p.a.

Preferred Applicants’ (shareholders and bondholders of FIMBank) Offer Price & YTM:

99% giving a yield to maturity of 4.60% p.a.

Interest Payment Dates:

31 May and 30 November

Maturity:

The bonds will mature at 100% (par) on 30 November 2013.

Use of Proceeds:

The net proceeds will be applied by FIMBank to support its general funding requirements, more specifically the kind of business that tends to have a maturity cycle longer than 1 year. This is because the core business of the Bank, i.e. cross-border trade finance mainly with emerging markets, has been developing in such a way that transaction maturities, especially the more structured transactions, are growing longer, sometimes up to 3 years. Therefore, the proceeds of the bonds are intended to provide funding support for this type of business.

Status & Security:

Unsecured

Listing:

Official List of the Malta Stock Exchange

Preferred Applicants’ & Pre-placement Closing Date:

22 October 2010

General Offer Period:

25 October 2010 to 29 October 2010

Minimum Application for bonds:

Preferred Applicants & Pre-placement: Minimum of €6,000 or US$6,000 (nominal)

General Public: Minimum of €2,000 or US$2,000 (nominal)

Downloads:

FIMBank plc – Prospectus dated 4 October 2010

FIMBank plc – Summary Note dated 4 October 2010

FIMBank plc – Authorisation to Apply Form – October 2010

Publications – Article 155 – 07.10.10 – FIMBank announces new short-term bond issue in EUR and USD

Should you be interested in obtaining a copy of our research note including our recommendation kindly send us an email on info@rizzofarrugia.com.

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