Eden Finance plc - Details of New Bond Issue

March 29, 2017

On 29 March 2017, Eden Finance plc announced that it received approval for the issuance of €40 million 4.00% unsecured bonds maturing in 2027.

The salient details of the new bond issue are as follows:

Coupon:

4.00%

Amount Offered:

€40 million

Guarantor:

Eden Leisure Group Limited

Issue Price:

100% (par)

Interest Payment Date:

Annually on 28 April (first interest payment date is 28 April 2018)

Maturity:

The bonds will mature at 100% (par) on 28 April 2027.

Status:

The Bonds shall constitute the general, direct, unconditional and unsecured obligations of the Issuer and shall be guaranteed in respect of both the interest and the principal amount due under said Bonds by the Guarantor in terms of the guarantee contained in Annex I of the Securities Note within the Prospectus dated 27 March 2017.

The Bonds shall at all times rank pari passu, without any priority or preference among themselves and with other outstanding unsecured and unsubordinated debt of the Issuer and Guarantor, present and future.

Use of Proceeds:

The net proceeds from the Bond issue, estimated at €39.45 million after issuance costs, will be principally used by the Issuer for the following purposes:

to finance the early redemption of the outstanding €13.98 million 6.6% Eden Finance plc 2017-20 bonds;

to repay €14.9 million in bank facilities (HSBC Bank Malta plc – €13 million; Lombard Bank Malta plc – €1.9 million);

to finance the redevelopment and refurbishment works relating to a number of the Group’s properties (€7.4 million);

for general corporate funding purposes of the Group (€3.2 million).

Deadline for ‘Preferred Applicants’:

Tuesday 18 April 2017 at 17:00 hrs with applications for a minimum of €2,000 and in multiples of €100 thereafter.

‘Preferred Applicants’ are holders of the 6.6% Eden Finance plc 2017-20 bond as at the close of trading on 23 March 2017.

Interested applicants are kindly requested to contact us for further information on the application procedure.

Listing:

Official List of the Malta Stock Exchange

Disclaimer:

The value of investments may increase as well as decrease and past performance is not an indication of future performance. Prospective investors are urged to read the Prospectus issued by Eden Finance plc dated 27 March 2017 including the Risk Factors which are found in the Registration Document on pages 7 to 11 and in Section 2 of the Securities Note found on pages 9 to 10. Prospective investors are urged to consult an independent financial adviser for advice prior to investing in the Bonds.

Downloads:

Eden Finance plc – Prospectus dated 27 March 2017

This webpage has been prepared based on the Prospectus dated 27 March 2017 issued by Eden Finance plc and no representations or guarantees are made by Rizzo, Farrugia & Co. (Stockbrokers) Ltd with respect to the accuracy of the data. This webpage is for information purposes only. It is not intended to be and should not be construed as an offer or solicitation to acquire or dispose of any of the securities or issues mentioned herein. Rizzo, Farrugia & Co. (Stockbrokers) Ltd accepts no responsibility or liability whatsoever for any expense, loss or damages arising out of, or in any way connected with, the use of all or any part of this webpage.