Corinthia Finance p.l.c. announces the issue of 6.25% €15,000,000 Bonds due in 2019 with a nominal value of €100 per Bond issued at par. The Issuer may exercise partial or full redemption on any of the early redemption dates from 2016 onwards. The Bonds will be guaranteed by Corinthia Palace Hotel Company Limited, the Issuer’s parent company.
These new Bonds will be interchangeable with the 6.25% Corinthia Finance Bonds issued in accordance with the prospectus dated 28th August 2009, and will be merged as one Bond on the next interest payment date falling on the 23rd September 2010.
Use of Proceeds
The funds raised in this Bond are principally earmarked for the redemption of the 6.5% Corinthia Finance p.l.c. Bond 2010 (the ‘Maturing Bond’) which matures on 8th April 2010.
Preferred treatment will be given to holders of the Maturing Bond who are included on the register of holders as at 5th February 2010. These bondholders are guaranteed full allotment of their applications for an amount equivalent to their existing holding, rounded up to the nearest €1,000. They will also receive a top-up of interest representing the difference between the coupon rates of 6.5% and 6.25% from 12th March 2010 to 8thApril 2010.
Applications, both from existing bondholders as well as new investors will be received as from 16th February 2010.
|Issue Price||100 (Par)|
|Size of Issue||€ 15 million & €2 million oversubscription option|
|Interest Payment Dates||22nd September (Annually)|
|Maturity date||22nd February 2019|
|Call option||Anytime between 23rd September 2016 & 22nd September 2019|
|Closing date for Applications from holders of Maturing Bonds||25th February 2010|
|Preplacement Period||1st March to 5th March|
Minimum application for bonds
|Preferred Applicants||€ 1,000|
|General Offer||€ 1,000|
The Prospectus is available here
The company presentation for this issue is available here
An Application Form for this issue is available here
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]