Mariner Finance plc - Bond Issue Results

On 23 December 2022, Mariner Finance plc published the results with respect to the recent offer of €44 million 5.00% unsecured bonds maturing in 2032. In total, Mariner Finance received applications for a value of €36.9 million.

An amount of €17.3 million was subscribed by holders of the existing 5.3% unsecured bonds 2024 by surrendering the corresponding amount of existing bonds. This represented around 49.5% of the 5.3% unsecured bonds 2024 bonds in issue. The premium of 1.50% payable by Mariner Finance to the holders of existing bonds participating in the proposed exchange offer and the accrued interest on the exchangeable bonds surrendered up to and including 15 December 2022 will be paid within 30 calendar days from the listing of the new bonds.

The remaining amount of €19.6 million was subscribed by bondholders who applied for additional amounts as well as other applications by the general public. All applications were allocated in full.

The interest on the new bonds commenced on 16 December 2022. The new bonds are expected to be admitted to listing on the Malta Stock Exchange by 3 January 2023 and trading is expected to commence on 4 January 2023. Trading on the 5.3% unsecured bonds 2024 will resume as from 3 January 2023.