IHI plc, Med Bank announce bond issues
International Hotel Investments plc is to issue €20 million 5.8 per cent bonds redeemable in 2021 with a nominal value of €100 per bond, issued at par.
The company will be granting preference to holders of the 6.3 per cent IHI plc bonds and 6.2 per cent-6.8 per cent IHI plc bonds, maturing on February 15, 2013 to subscribe to the bonds by surrendering the maturing bonds. Details are included in the prospectus dated November 16 available at www.ihiplc.com and at authorised financial intermediaries from Monday.
Applications forms are being mailed to holders of maturing bonds.
Mediterranean Bank plc was yesterday given the green light to issue the equivalent of €10 million 7.5 per cent subordinated bonds redeemable in 2019, subject to an over-allotment option of the equivalent of €2.5 million.
The bonds will be issued at par in tranches denominated in euro and sterling, having a nominal value of €100 and £100 per bond respectively. The bank has applied for the bonds to be listed on the Official List of the Malta Stock Exchange.
Details will be included in the prospectus which will be available from Monday from Mediterranean Bank branches and authorised financial intermediaries listed in the document.
A copy may be downloaded from www.medbank.com.mt.