Corinthia announces bond issue

Corinthia Finance p.l.c. is issuing 6.25 percent bonds amounting to €20 million due in 2019. They are partially earmarked for the redemption of the 6.7 percent Corinthia Finance plc Bond 2009 which matures on October 30. The remaining funds would be...

Corinthia Finance p.l.c. is issuing 6.25 percent bonds amounting to €20 million due in 2019.

They are partially earmarked for the redemption of the 6.7 percent Corinthia Finance plc Bond 2009 which matures on October 30. The remaining funds would be used to part finance the development strategy of the Corinthia Group.

The bonds have a nominal value of €100 per bond issued at par, and are subject to an over-allotment option not exceeding €5 million.

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. Terms of issue include a preferred treatment to holders of 6.7 percent Corinthia Finance p.l.c. Bonds 2009 on the register of holders as at August 26.

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