A prospectus dated 10th June relating to a €27 million Debt Issuance Programme has today been issued and filed with the registrar of companies.
The first tranche of the said Debt Issue Programme amounts to €7 million (subject o an over allotment of €2million)
The notes are expected to be admitted to the official list of the Malta stock exchange on the 28th June 2010 and trading is expected to commence on the 30th June 2010.
The Prospectus is available for download here
The Final Terms are available here
An Application form is available here
|Minimum Application Size||€1,000 (Multiples of 1,000)|
|Interest Payment Date||Annual – 30th June|
|Maturity||30th June 2015 – Par (100%)|
|Applications Closing Date||21st June 2010|
Activities of the Issuer
The Issuer is licensed by the Malta Financial Services Authority (“MFSA”) under the Banking Act, Cap. 371 of the laws of Malta as a credit institution and is authorised to carry out the business of banking.
The principal activities of the Issuer comprise the following:
• The receipt and acceptance of customers’ money on deposit in current, savings and term accounts which may be denominated in euro and other major currencies;
• The provision of advances by way of short and longer term loans and subscription to private bond issues;
• Money transmission services via SWIFT;
• Factoring services;
• Debit and Credit card issuance;
• Internet banking services; and
• Cash and treasury management services.
Use of Proceeds
The net proceeds from each issue of the Notes will be used by the Issuer in supporting the general growth of the Issuer principally through the expansion of its factoring, credit card and short term credit facilities business.
The Notes are secured by a pledge over the factoring receivables held by the Issuer. The pledge is to be held by HSBC Bank Malta plc as the Security Trustee for the benefit of the Note Holders.
For more information and/or for advice on whether this bond is suitable for inclusion in your investment portfolio, prospective investors may contact us on +356 25 688 688, via email on [email protected], alternatively you may contact us by clicking here