GAP Group plc - Application for a New Bond Issue
On 22 November 2021, GAP Group plc announced that it submitted an application to the Malta Financial Services Authority requesting the admissibility to listing of €21 million 3.90% Gap Group plc secured bonds maturing between 2024 and 2026. Subject to obtaining regulatory approval, GAP Group will be inviting holders of the €19.2 million 4.25% Gap Group plc secured bonds 2023 as at close of trading on 24 November 2021 to subscribe to the new bonds by surrendering their respective holding, and in so doing, will benefit from a premium of 1.25% on the nominal value of the 4.25% secured bonds 2023 so surrendered. Furthermore, holders of the 4.25% secured bonds 2023 may also subscribe for additional amounts in the new bonds.
Full details of the new bonds will be provided in a prospectus that will be made available following the necessary approval by the Malta Financial Services Authority.