Mediterranean Investments Holding plc - Application for a New Bond Issue

On 11 May 2020, Mediterranean Investments Holding plc announced that it intends to file an application with the Listing Authority requesting admissibility to listing of new €20 million 5.5% unsecured bonds redeemable in 2023. The new bonds will be guaranteed by Corinthia Palace Hotel Company Limited, both in terms of annual interest and capital repayment upon maturity. Subject to regulatory approval, the net proceeds from the new bonds will be used by for the redemption of the €20 million 5.5% unsecured bonds 2020 which are due for redemption on 31 July 2020.

MIH will be giving preference to holders of the maturing bonds to subscribe to the new bonds up to their holding in the maturing bonds. Any additional bonds applied for will rank pari passu with other applications submitted by other bondholders without priority or preference in accordance with an allocation policy to be announced in due course. Once regulatory approval is obtained, full details of the new bonds will be provided in a Prospectus that will be made available on MIH’s website or via Authorised Financial Intermediaries. Application forms will be mailed to all bondholders of the maturing bonds following regulatory approval.