On 12 February 2010, Corinthia Finance plc announced a €15 million bond issue at a coupon of 6.25% per annum. The bonds have a final maturity date of 22 September 2019 but may be redeemed anytime between 23 September 2016 and 22 September 2019. The bonds are guaranteed by Corinthia Palace Hotel Company Limited, the parent company of the Corinthia Group.
Annually on 22 September.
The bonds will mature at 100% (par) on 22 September 2019 but may be redeemed early anytime between 23 September 2016 and 22 September 2019.
Closing Date for Preferred Applicants
Thursday 25 February 2010
Monday 1 March 2010 to Friday 5 March 2010 (may be closed earlier at the Issuer’s discretion)
Minimum application for bonds
Preferred Applicants: €1,000 and rounded to the nearest thousand.
General Offer Stage: €1,000 and in multiples of €100 thereafter.
Official List of the Malta Stock Exchange
Use of Proceeds
The bond proceeds will be mainly used to redeem the maturing 6.5% Corinthia Finance plc 2010 bond which matures on 8 April 2010. The remaining funds will be passed on to the Guarantor and used for its general corporate funding purposes.
Corinthia Palace Hotel Company Limited
Should you be interested in obtaining a copy of our research note including our recommendation, kindly send us an email on firstname.lastname@example.org.