Von der Heyden Group Finance plc - Details of New Bond Issue
On 11 October 2022, Von der Heyden Group Finance plc published a Prospectus following regulatory approval for the admissibility to listing on the Official List of the Malta Stock Exchange of €35 million 5.00% unsecured and guaranteed bonds maturing in 2032. The salient details of the new bond issue are as follows:
€35 million (nominal)
16 December 2032
Interest Payment Date:
Annually on 16 December (first interest payment date is 16 December 2023)
Ranking of the Bonds:
The bonds will constitute the general, direct, unconditional, and unsecured obligations of the Issuer, guaranteed jointly and severally by Timan Investments Holdings Limited (the Guarantor), and will at all times rank pari passu, without any priority or preference among themselves and with other outstanding and unsecured debt of the Issuer, present and future, if any, save for such exceptions as may be provided by law. Furthermore, third party security interests may be registered which will rank in priority to the bonds against the assets of the Issuer for so long as such security interests remain in effect. The bonds will also rank after any future debts which may be secured by a cause of preference such as a privilege and/or a hypothec.
Use of Proceeds:
The net proceeds from the bond issue will be used as follows:
- €25.3 million for the redemption of the outstanding 4.40% Von der Heyden Group Finance plc 2024 bonds.
- €4.0 million for part-financing the development of the Andersia Silver project in Poland.
- €5.2 million for general corporate funding purposes.
Plan of Distribution:
Placement Intermediaries’ Offer: An amount of €10 million is reserved for subscriptions from Financial Intermediaries through Placement Agreements.
‘Preferred Applicants’ (existing Von der Heyden bondholders as at close of trading on 11 October 2022): An amount of €25 million is reserved for subscriptions from ‘Preferred Applicants’.
Intermediaries’ Offer: Any remaining balance will be made available for subscriptions by Financial Intermediaries.
Minimum Subscription Amount:
€2,000 (nominal) and in multiples of €100 thereafter
Official List of the Malta Stock Exchange
Closure of Offer Period:
‘Preferred Applicants’: 14 November 2022
Intermediaries’ Offer (if any): 2 December 2022
Expected Listing Date:
16 December 2022
Prospectus dated 10 October 2022
This webpage has been prepared based on the Prospectus dated 10 October 2022 issued by Von der Heyden Group 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.