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Corinthia Finance plc: 10 Year New Bond Issue


The Board of Directors of Corinthia Finance p.l.c. (the “Company”) announces that it has submitted an application to the Listing Authority of the Malta Financial Services Authority requesting the admissibility to listing of €7.5 million in bonds redeemable between 2019 and 2022 (the “New Bonds”).

Subject to the Listing Authority granting its approval to admissibility to listing of the New Bonds on the Official List of the Malta Stock Exchange and subject to their effective admission, the net proceeds from the New Bonds will be used for the Corinthia Group’s general corporate funding purposes including the partial redemption of the €14.6 million 6.75% Corinthia Finance p.l.c. bonds due on 8 April 2012 (the “Maturing Bonds”).

The Company will be granting holders of the 6.75% Corinthia Finance p.l.c. Bonds 2012 preference to subscribe to the New Bonds by surrendering the Maturing Bonds.

The New Bonds will have a nominal value of €1,000 and will be issued at €1,000 per bond. They will be guaranteed by Corinthia Palace Hotel Company Limited. Trading in the New Bonds will take place on the Malta Stock Exchange in multiples of €1,000 subject to a minimum holding of €10,000.

To access the official company announcement, please click here.