United Finance bond issue fully subscribed

The 6.75% €10 million bond issue by United Finance p.l.c., closed as scheduled today. The issue was fully subscribed and the company will be exercising the over-allotment option of €2 million bringing the total bond issue to €12 million. Preference will be given to holders of United Finance 2008 Bond who opted to surrender the maturing bonds as consideration for an equivalent number of the new bonds. The basis of acceptance of applications for new applicants together with the allocation policy to be adopted will be announced shortly.

The bond Issue was underwritten by HSBC Bank Malta. The bank is also acting as manager and registrar. The sponsoring Stockbroker is Charts Investment Management Service Ltd. Camilleri Preziosi are legal advisers, and KPMG are the auditors of the issuer.

The new bonds, issued at €100 per bond and bearing an interest rate of 6.75 per cent payable annually on June 30, will be admitted to the primary market of the Malta Stock Exchange. An application for admittance has been made with the Malta Stock Exchange and it is expected that trading in the bond will commence shortly. The €12 million bond issue will be redeemed on any date between 30 June 2014 and 30 June 2016.