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6% AX Investments Bond Issue 2024.

ax investments

AX Investments p.l.c. have announced details of its €40 million bond issue redeemable in 2024.The bonds will pay an interest of 6% and will be issued at €100. They are redeemable at their nominal value on the Redemption Date.

  • Pre placement orders will be accepted upto the 19th of February
  • The general offer period is between 24 February 2014 to 28 February 2014. Applications forms or oders submitted online have to be recieved by not later than Friday 21st February at 2pm.

The bonds are guaranteed by AX Holdings Limited, the parent company of the AX Group.

The proceeds from the Bonds, which net of Issue expenses are expected to amount to approximately €39,300,000, will be used by the Issuer for the following purposes, in the following order of priority:

i. a maximum amount of €11.6 million of the proceeds from the Bond Issue will be used to finance the redemption of the outstanding amount of Maturing Bonds; Holders of these maturing bonds will be given preference to subscribe to the new bonds by surrendering the Maturing Bonds.

ii. the amount of €21 million shall be advanced to Simblija Developments Limited (C 39400), a wholly owned subsidiary of AXH and member of the AX Group, for the purpose of constructing the Hilltop Project (The remaining amount of €1 million required for the purpose of constructing the Hilltop Project shall be funded by own funds of Simblija Developments Limited); and

iii. the remaining balance of the net Issue proceeds will be used for general corporate funding purposes of the Group, in particular for the early repayment of certain outstanding loans.

A copy of the prospectus is available HERE.

Investors may download the application by clicking on this link AX_APPLICATION_FORM_FEBRUARY_2014 or apply via CC WebTrader.

For investment advice on this issue or for general assistance investors may call our offices on 25 688 688.