Eden Finance plc - Details of New Bond Issue

On 13 May 2010, Eden Finance plc announced a €15 million bond issue at a coupon of 6.6% per annum. The bonds have a final maturity date of 15 June 2020 but may be redeemed early on any date between 16 June 2017 and 14 June 2020.

Coupon

6.6%

Amount issued

€15,000,000

Issue Price

100% (par)

Guarantor

Eden Leisure Group Limited

Interest Payment

Annually on 15 June

Maturity

The bonds will mature at 100% (par) on 15 June 2020 but may be redeemed early on any date between 16 June 2017 and 14 June 2020 by giving 30 days notice.

Closing date for Preferred Applicants

Thursday 27 May 2010

General Public Offer Period

Monday 31 May 2010 to Friday 4 June 2010 (or earlier at the Issuer’s discretion)

Minimum application for bonds

Preferred Applicants: €1,000 and in multiples of €100 thereafter.

General Offer Stage: €1,000 and in multiples of €100 thereafter.

Listing

Official List of the Malta Stock Exchange

Use of Proceeds

The net proceeds of the Bond Issue will be used by the Issuer to finance the redemption of the outstading 6.7% Bonds which mature on 12 October 2010. Any unutilised balance from the Bond proceeds will be passed on to the Guarantor, Eden Leisure Group Ltd, for its general funding purposes.

Downloads

Eden Finance plc – Prospectus May 2010

Eden Finance plc – Authorisation to Apply Form

Eden Leisure Group Limited – 2009 Annual Report

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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