On 7 December 2021, International Hotel Investments plc announced the allocation policy in respect of the recently issued €80 million 3.65% unsecured bonds maturing in 2031.
IHI received applications for an aggregate amount of €81.2 million. Subscriptions received from holders of the existing 5.8% unsecured bonds which are due for redemption on 21 December 2021 and who exchanged their current holding with the new bonds were allocated in full. Similarly, subscriptions received from Authorised Financial Intermediaries (through Placement Agreements) and Corinthia Group personnel up to €30 million and €3 million respectively (representing the reserved portions) were also allocated in full.
Meanwhile, all other subscriptions received from Corinthia Group shareholders, bondholders and personnel were allocated in full. On the other hand, IHI will be satisfying the first €100,000 (nominal) in full and 70.987% of the remaining amount (rounded to the nearest €100) in relation to applications received from the general public.
Interest on the new bonds commenced on 7 December 2021 and refunds of unallocated monies will be processed by latest 16 December 2021. The new bonds are expected to be admitted to listing on 16 December 2021 whilst trading is expected to commence on 17 December 2021.