IHI announces €30m bond issue

International Hotel Investments p.l.c. has announced the issue of €30 million 6.25% bonds 2015-2019, subject to an over-allotment option of an additional €5 million in the event of over-subscription, Application has been made to the Malta Stock...

International Hotel Investments p.l.c. has announced the issue of €30 million 6.25% bonds 2015-2019, subject to an over-allotment option of an additional €5 million in the event of over-subscription,

Application has been made to the Malta Stock Exchange for the bonds to be admitted to, and traded on the Malta Stock Exchange. Trading is expected to commence on July 22.

Copies of the Prospectus are available for download in electronic form from the company's website (www.ihiplc.com) as from today.

International Hotel Investments, which forms part of the Corinthia group, has acquired and developed landmark hotel projects, in London, Prague, Tripoli, Lisbon, Budapest, St Petersburg and St Julian's.

In 2007, IHI welcomed Nakheel Hotels (formerly Istithmar Hotels) of Dubai as another major, strategic shareholder.

This is the fourth bond issue by IHI. The bonds will be redeemable as from 2015 onwards at the issuer's option. Applications for the public will open on June 30.

The newly raised capital will be utilised for IHI's expansion plans. Two major hotels are currently under construction: the Corinthia Hotel Benghazi and the flagship Corinthia Hotel London on Northumberland Avenue.

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