Corinthia Finance plc - Business Update

On 30 March 2020, Corinthia Finance plc issued an announcement providing an update on its operations and also reassuring stakeholders of its continued strength and stability. In this respect, Corinthia explained that following the early redemption of the €7.5 million 6% bonds 2019/2022 in October 2019, it also has the necessary funds in place to continue honouring its debt obligations and servicing costs on the €40 million 4.25% bonds maturing in 2026. Corinthia also made reference to the sale of the ‘Panorama Hotel Prague’ which took place on 26 August 2019 as a result of which, the amount of €20 million were transferred to a reserve account for the purpose of redeeming part of the 4.25% bonds maturing in 2026.

Comments are closed.