Premier Capital p.l.c. said the €25 million 6.8 per cent bond 2017-2020, inclusive of the over-allotment option, was oversubscribed immediately after subscription lists were opened.
In view of the demand, a number of applications will be scaled down, Premier Capital said. It said the issuer will be publishing the allocation policy by April 1.
Premier operates McDonalds restaurants in Malta and the Baltics.
IHI BONDS
International Hotels Investmentsalso announced today that their €25 million 6.25% 2020 bond issue had been over-subscribed and closed immediately on the first day of offer, minutes after opening.
Proceeds from the bonds will be principally used to redeem the outstanding amount of the 5% IHI convertible bond which matures on 29th May 2010 and to repay in full an existing loan facility.
“We are very satisfied with this success as the Maltese public has shown time and time again the trust that it places in the strong reputation enjoyed by International Hotels Investments p.l.c. and the Corinthia Group. As in preceding bond offers issued by the Group, this bond has also generated a very positive response and we are grateful to the Maltese public for the continued support. I take this opportunity to thank investors, banks, all financial intermediaries and advisers for their assistance in making this bond issue a success,” said Group Chairman and Chief Executive Officer Alfred Pisani.
To date, IHI has acquired and developed landmark hotel projects in Malta, Tripoli, Prague, Lisbon, Budapest, St Petersburg. It also currently developing another two projects – one in London (set to open this year) and another in Benghazi.