Grand Harbour Marina plc (GHM) has just announced a new €10 million bond issue which is subject to an over-allotment option of €2 million. The bonds will be issued at par (€100) and will be redeemable in 2020 with an early redemption option between 25 February 2017 and 25 February 2020. Grand Harbour Marina plc shareholders as well as holders of a berth licence within the Marina will be treated as Preferred Applicants.
|Issue Price||100 (Par)|
|Size of Issue||€ 10 million & €2 million oversubscription option|
|Interest Payment Dates||25th February & 25th August|
|Maturity date||25th February 2020|
|Call option||Anytime between 25th Febraury 2017 & 25th February 2020|
|Preferred applicants opening||8th Febraury 2010|
|Preplacement opening||8th February 2010|
|General public opening||11th February 2010|
Minimum application for bonds
|Preferred Applicants||€ 2,000|
|General Offer||€ 2,000|
GHM intends to use the proceeds of the bond issue to:
- Repay the company’s current loan term facility.
- Increase waterside and landside investments
- Invest in other marinas in conjunction with its major shareholder Camper & Nicholsons.
For advice on whether this bond issue is suitable for inclusion in your investment portfolio please contact on of our investment advisors on 25 688 688 or send us an email on [email protected]