Corinthia Finance plc bond offer over-subscribed

Corinthia Finance plc said yesterday its €15 million 6.25 per cent 2019 Bond issue was over-subscribed and closed immediately after opening on Monday morning.

"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 chief executive officer Alfred Pisani said.

Corinthia Finance plc was incorporated in 1999 as a financing arm for Corinthia Palace Hotel Company Ltd to enable CPHCL 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 bond offer was managed by Bank of Valletta, which also acts as bond registrar.