Grand Harbour Marina reports strong interest in bond issue

Grand Harbour Marina plc has reported that it received applications substantially in excess of the preferred portion of €6 million bonds which were reserved for authorised financial intermediaries and preferred applicants.

The bonds were reserved ahead of the issue of a total of €10million bonds together (with the over-allotment option of a further €2 million) this Thursday. The bonds pay interest of 7% p.a. and mature in 2017-2020.

Lawrence Zammit, Chairman of GHM, thanked the investors for their confidence in the company.

“Our long association with Camper & Nicholsons, the leading international marina group and the fact that this forms a strong team positioned to develop existing business and to take advantage of the investment opportunities in the sector are some of the advantages that prospective investors appeared to have weighed positively”, Mr Zammit said.