Phoenicia Finance Company plc - Bond Issue Allocation Policy

On 1 March 2024, Phoenicia Finance plc (‘Phoenicia’) announced the basis of acceptance and allocation policy in relation to the offer of €50 million 5.75% unsecured bonds 2028/33.

The amount of €20 million reserved for Authorised Financial Intermediaries was fully subscribed and allocated in full. Furthermore, Phoenicia allocated another €4,616,900 to authorised Financial Intermediaries which was not subscribed to by existing bondholders.  The total amount allotted to Financial Intermediaries was €24,616,900 which was 53.9% of the total placement agreements received, totalling €45,709,300.

Phoenicia received a value of €25,383,100 from applications by existing bondholders, of which €19,288,600 represented existing 4.15% Phoenicia 2023/2028 bondholders who opted to exchange their bonds (77.15% of the outstanding bond). The remaining €6,094,500 represented additional bonds applied for by existing bondholders. All applications by existing bondholders were allotted in full.

Interest on the new bonds will commence accruing on 12 March 2024. The new bonds are expected to be admitted to listing on the Malta Stock Exchange on 11 March 2024 and trading is expected to commence on 12 March 2024. The remaining Interest on bonds subject to the Existing Bond Transfer accrued up to and including 11 March 2024 will be paid by 11 April 2024.