On 9 May 2022, Mediterranean Investments Holding plc announced that it has submitted an application with the Malta Financial Services Authority requesting the admissibility to listing of a maximum of €30 million unsecured bonds redeemable in 2027. The new bonds will have an interest rate of 5.25% and will be guaranteed by Corinthia Palace Hotel Company Limited.
Subject to regulatory approval, the net proceeds from the new bonds will be used for the partial redemption of the €40 million 5% unsecured bonds which are repayable on 6 July 2022.
MIH will be giving preference to holders of the maturing bonds as at close of trading on 26 May 2022 to subscribe to the new bonds. Further details will be published once regulatory approval is obtained.