Corinthia subsidiary to make €30m bond offer

Mediterranean Investments Holding, a Corinthia subsidiary with investments in Libya, had announced plans to offer the equivalent of €30 million in a combination of Euro, Sterling and US Dollar bonds subject to an over-allotment option of a further €10...

Mediterranean Investments Holding, a Corinthia subsidiary with investments in Libya, had announced plans to offer the equivalent of €30 million in a combination of Euro, Sterling and US Dollar bonds subject to an over-allotment option of a further €10 million redeemable in 2017. They may be redeemed earlier, at the company's option, between 2015 and 2017.

The funds will mostly be used for financing of the Medina Tower mixed development in Tripoli, whilst the remaining funds will be used for thecompany's general corporate funding purposes. The company has reserved up to €15 million of the Issue for shareholders and bondholders of Corinthia Group listed companies - Mediterranean Investments Holding p.l.c, International Hotel Investments p.l.c. and Corinthia Finance p.l.c.

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