Allocation policy for the €7.5m Corinthia Finance bond issue

Corinthia Finance plc has explained its acceptance and allocation policy after its €7.5 million six per cent 2019-2022 bond issue was oversubscribed on March 16.

The company received a total of €8.6 million from holders of the 6.75% Corinthia Finance plc bonds which were due to mature. These applications were €1.1 million over the maximum aggregate amount of €7.5 million.

All applications for amounts up to €40,000 – 98 per cent of all applications – will be satisfied in full.

The company will be satisfying the first €40,000 of applications for amounts over €40,000 and allocating a further 4.95 per cent of the remaining balance.

All amounts being allocated have been rounded to the nearest integral number of the €1,000 nominal value of the bonds.

Interest on the bonds begins on Thursday. The dispatch of allotment advices and refunds of unallocated monies will be made by April 10.

The bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on April 11, and trading is expected to start the following day.