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Endo Finance P.L.C. 4.5% Unsecured Bonds 2029

Endofinance

Endo Finance P.L.C. has announced the issue of €13,500,000 of 4.5% Unsecured Bonds redeemable in 2029, with a nominal value of €50,000 per Bond issued at par.

If you would like to apply for these bonds kindly refer to the information at the bottom of this article or contact us on +25 688 688.

Prospective investors are urged to note that applications must be for a minimum value of €50,000 and multiples of €50,000 thereafter.

COMPANY OVERVIEW

The principal object of the Issuer is to purchase or otherwise acquire, under any title whatsoever, to hold and manage, by any title, movable and immovable property or other assets, including but not limited to securities and other financial interests and the advancing thereof to members of the Endo Tankers Sub-Group.

The Endo Tankers Sub-Group will be engaged in the business of acquiring, financing, managing and chartering commercial vessels. IFP Malta, part of the Endo Group, will provide ship-to-ship fendering services, anti- pollution and pollution response services as well as purchase, sell, let, lease supply and store bunker fuels required for the provision of bunkering services and to act as agents or representatives of petroleum companies and to distribute such products in the local marine market, as well as to establish, maintain, provide, develop and operate transport services for the purpose of supplying bunker fuels to vessels by road transport, barge, tankers or similar marine crafts, within or outside the territorial waters of Malta.

USE OF PROCEEDS

The proceeds from the Bond Issue, which net of Bond Issue expenses are expected to amount to approximately €13,100,000, will be on-lent to Endo Tankers Ltd by the Issuer and shall be utilised for the following purposes, in the amounts and order of priority set out below:

1. An amount of circa €8,400,000 of the net Bond Issue proceeds will be used to finance the acquisition by Endo Two Maritime Ltd of Vessel 2, being a vessel having substantially the characteristics set out in sub-section 5.3.2.2 of the Registration Document;

2. An amount of circa €4,200,000 of the net Bond Issue proceeds will be used to finance the acquisition by Endo Three Maritime Ltd of Vessel 3, being a vessel having substantially the characteristics set out in sub-section 5.3.2.2 of the Registration Document; and

3. The remaining balance of circa €500,000 of the net Bond Issue proceeds will be used for general corporate funding purposes of the Endo Group.

BUSINESS OVERVIEW

In the weeks preceding the publication of the Prospectus, the current shareholders of the Palm Group, namely the Frendo family, underwent a corporate restructuring exercise which today forms the Endo Group, as separate and distinct from the Palm Group. The object of the Endo Tankers Sub-Group is to acquire, finance, manage and charter commercial vessels.

This restructuring process primarily involved the incorporation of the parent company of the Endo Group, Endo Ventures Ltd, which owns 98% of the Issuer and fully owns Endo Tankers Ltd. The latter company fully owns Intership Management Limited, Endo One Maritime Ltd, Endo Two Maritime Ltd and Endo Three Maritime Ltd.

The founders and ultimate beneficial owners of the Group enjoy long-standing experience in the shipping industry, bunkering and the transportation of petroleum products, through the Palm Group.

To this end, over recent years the Palm Group acquired, managed and chartered a number of vessels for its bunkering operations and the transportation of petroleum products. From 2004 to 2013, the Palm Group, together with third parties, owned a number of vessels. In 2014, in virtue of the incorporation of International Fuel Suppliers Limited, the Palm Group became directly involved in the chartering of vessels for the provision of fuels and bunkering services. Moreover, in 2016 the Palm Group acquired the vessel Mumtaz, an oil tanker used for the transportation of petroleum products and for bunkering operations both in Maltese territorial waters and international waters.

HOW TO REGISTER TO BUY BONDS?

All orders must be submitted by not later than the 21st of March, 2019 @ 1200hrs (Closing date). In case of over subscription the bond will close early and unfortunately no further orders will be accepted.

Applications must be for a minimum value of €50,000 and multiples of €50,000 thereafter.

A copy of the admission document is available HERE

Orders may be placed by contacting us on +356 25 688 888 or via email on [email protected] or through your Financial Advisor.

Calamatta Cuschieri Investment Services Ltd is acting as Sponsor, Manager and Registrar for this bond issue.