Corinthia €15m bond offer gobbled up

A €15m bond offer issued by Corinthia Finance p.l.c. had to close within minutes because of oversubscription. "The €15 million 6.25 per cent 2019 bond issue was over-subscribed and closed immediately after opening," the company said. “We are very...

A €15m bond offer issued by Corinthia Finance p.l.c. had to close within minutes because of oversubscription.

"The €15 million 6.25 per cent 2019 bond issue was over-subscribed and closed immediately after opening," the company said.

“We are very satisfied with the positive response generated by this bond issue. Once more, this success underlines the strong reputation enjoyed by the Corinthia Group," group chairman and CEO Alfred Pisani said.

Corinthia Finance p.l.c. was incorporated in 1999 as a financing arm for Corinthia Palace Hotel Company Limited to enable the latter to undertake the ownership, development and operation of real estate developments. Through its subsidiary companies, CPHCL is currently engaged in completing existing projects and developing new sites in various overseas territories with an approximate total value of over €850 million worth of investments.

The net proceeds from the bond issue will be principally used to redeem the outstanding amount of the 6.5% bonds which mature on 8th April 2010, and amount to €14,273,700.

The Corinthia Group is currently engaged in developing and completing projects in Libya, London and in St Petersburg Russia.

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