On 28 June, Tumas Investments plc announced the allocation policy with respect to the recently issued €25 million 3.75% unsecured bonds maturing in 2027.
In total, the Company received 2,819 applications for a value of just over €38.3 million. Existing holders of the 6.2% Tumas Investments plc 2017/20 bonds who exercised their preference to exchange their respective maturing bonds with the new bonds amounted to €17.75 million, representing 71% of the maturing bonds. These amounts were allocated in full.
On the other hand, additional amounts applied for by holders of the maturing bonds were allocated the first €5,000 in full and 3.665% on the remaining balance rounded to the nearest €100.
Refunds of unallocated amounts will be made by 6 July 2017 whilst interest on the new bonds will commence on 10 July 2017. The new bonds are expected to be admitted to listing on the Malta Stock Exchange on 7 July 2017 and trading is expected to commence on 10 July 2017.
Meanwhile, redemption of outstanding amounts on the maturing 6.2% Tumas Investments plc 2017/20 bonds together with payment of interest up to and including 9 July 2017 will be made on 10 July 2017.