GlobalCapital announces bond issue allocation policy

GlobalCapital on Thursday announced the allocation policy applicable for its €10 million bond offering, which was issued last week and was over-subscribed in two hours. The over-allotment option of €7 million was exercised, bringing the total bond issue to €17 million.

GlobalCapital CEO Niki Portelli said the company received over 1,200 applications for a total value exceeding €19 million.

Applications made at the pre-placement stage for a total value of €8.5 million would be met in full.

For the remaining €8.5 million of the public, applications up to €10,000 will be met in full. For applications between €10,001 and €100,000, the first €10,000 will be met in full and the first 18.6% will be met for the remaining amount.

In the case of applications over €100,001, the first €10,000 will be met in full and the first 15.3% will be met for the remaining amount.

The allocation is to be rounded down to the nearest €100. The total bond register will have a value of €17 million.

Global Capital chairman Christopher J. Pace thanked all applicants for their support as well as HSBC, who acted as manager, registrar, sponsor and underwriter and other company advisors for their role in the bond issue's success.

All applicants for the bond issue will be receiving a communication from the company on their entitlement and refund cheques, where applicable.

Interest on the bonds began on Friday.