G3 Finance plc - Details of New Bond Issue
On 26 March 2022, G3 Finance plc published a Prospectus following regulatory approval for the admissibility to listing on the Official List of the Malta Stock Exchange of €12.5 million 4.50% secured bonds maturing in 2032. The salient details of the new bond issue are as follows:
Coupon:
4.50%
Amount Offered:
€12.5 million (nominal)
Issue Price:
100% (par)
Maturity:
6 April 2032
Interest Payment Date:
Annually on 6 April (first interest payment date is 6 April 2023)
Ranking of the Bonds:
The bonds constitute the general, direct, unconditional, and secured obligations of the Issuer, guaranteed jointly and severally by the Guarantor, and will, at all times, rank pari passu, without any priority or preference among themselves but shall rank with priority and preference as regards to the Security Property. The bonds are secured with a first ranking special hypothec over the Security Property, which is the Solana Hotel & Spa, valued at €18.25 million as at February 2022. The plot of land adjoining the Solana Hotel & Spa, once acquired and developed, will form part of the Security Property.
Use of Proceeds:
The proceeds from the bonds, which net of expenses are expected to amount to €12.1 million, will be used by the Guarantor for the following purposes:
- €5.4 million to refinance existing borrowings of G3 Group.
- €1.4 million for the acquisition of a plot of land in the vicinity of the Pergola hotel.
- €2.0 million for the acquisition of a plot of land adjacent to the Solana hotel earmarked for future development of the existing hotel.
- €3.3 million for the general corporate funding purposes of the G3 Group.
Plan of Distribution:
The entire amount of €12.5 million has been reserved for subscriptions by Authorised Financial Intermediaries through Placement Agreements.
Minimum Subscription Amount:
€2,000 (nominal) and in multiples of €100 thereafter
Listing:
Official List of the Malta Stock Exchange
Expected Listing Date:
6 April 2022
Downloads:
Prospectus dated 25 March 2022
Disclaimer:
This webpage has been prepared based on the Prospectus dated 25 March 2022 issued by G3 Finance plc and no representations or guarantees are made by Rizzo, Farrugia & Co. (Stockbrokers) Ltd with respect to the accuracy of the data. This webpage is for information purposes only. It is NOT intended to be and should NOT be construed as an offer or solicitation to acquire or dispose of any of the securities or issues mentioned herein. Rizzo, Farrugia & Co. (Stockbrokers) Ltd accepts NO responsibility or liability whatsoever for any expense, loss or damages arising out of, or in any way connected with, the use of all or any part of this webpage.
Investors wishing to acquire the Bonds should read the Prospectus before making any investment decision in order to fully understand the potential risks and rewards associated with an investment in the Bonds. A copy of the Prospectus is available on Rizzo, Farrugia & Co. (Stockbrokers) Limited’s website. Prospective investors are urged to consult their financial advisers as to the suitability or otherwise of acquiring such Bonds. The value of the investment and the income therefrom may go down as well as up and investors may lose some or all of the money invested.
This ADVERTISEMENT has been issued by Rizzo, Farrugia & Co. (Stockbrokers) Limited which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The Company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta. Rizzo, Farrugia & Co. (Stockbrokers) Limited is acting as Sponsor, Manager and Registrar of the Bond Issue.