Mizzi Organisation bonds launched

Mizzi Organisation Finance plc has launched a public bond offering of €25 million of a nominal value of €100.

It is issued at par and bearing an interest rate of 6.2 per cent per annum, payable in May and November each year.

In the event of over-subscription, the company may issue additional bonds up to €5 million.

The bonds are due for redemption in November 2019 unless otherwise previously redeemed or cancelled on any day between November 2016 and November 2019.

Mizzi Organisation Finance plc chairman John Grech said that since the 2002 bond issue, the organisation had undergone a period of unprecedented capital investment of over €75 million.