Eden Finance announces €15 million 6.6% bond issue

Eden Finance p.l.c. has today formally announced today the issuing of 6.6 per cent unsecured bonds for an aggregate amount of €15 million, guaranteed on a joint and several basis by Eden Leisure Group Ltd.

The announcement was made following approval by the Listing Authority and subsequent registration of the related prospectus.

The bonds have a nominal value of €100 each and will be issued at par. The minimum amount of subscription is of €1,000 and multiples of €100 thereafter.

They will be redeemed on June 15, 2020 or earlier, at the company’s discretion, at any date after June 15, 2017.

Eden Finance p.l.c. has also applied to the Listing Authority for the bonds to be admitted to the Official List and to the Malta Stock Exchange.

Trading of these bonds is expected to commence in June, the company said.

Existing bondholders of Eden Finance p.l.c. 6.7 per cent 2010 Bonds are being offered preference to transfer their existing holdings to the new 6.6 per cent 2017-2020 bond between May 13 and 27.

The offer will be open to the public during the public offer period commencing on May 31, up to and including June 4.

The public offer period is subject to right of the issuer to close subscription lists earlier in the case of over-subscription.

All applications may be submitted through any of the authorised financial intermediaries.

Group managing director Ian Decesare said the proceeds from this Bond Issue would be used to re-finance the outstanding amount of the Eden Finance p.l.c. 6.7 per cent 2010 bonds.

Any remaining proceeds will be used for general corporate funding purposes.