On 12 April, the Malta Stock Exchange announced that the recently issued €25 million 6.8% Premier Capital plc Bonds 2017 – 2020 had been admitted to the Official List. Trading in these bonds is expected to commence as from tomorrow Tuesday 13 April.
The net proceeds from this bond issue will be principally used by Premier Capital plc for:
- Expansion & Development: €16.8 million will be utilised for financing the Group’s expansion and development programme over the coming 2 years. The Premier Group intends to acquire 8 new McDonald’s restaurants in Malta and the Baltic States but it does not exclude the entry into new territories. Part of the bond proceeds are also intended to be used to remodel existing McDonald’s outlets through conversion into hybrid restaurants and McCafes.
- Debt Financing: €7.6 million will be utilised to part-refinance the Group’s existing bank debt.