€55 million 4% Secured Bonds issued by International Hotel Investment have been heavily oversubscribed with applications exceeding €148 million.

The company said that the the public offer ,which opened yesterday, closed on the same day.

IHI shareholders had been given preference to subscribe to the first €30 million of the bonds while the remaining €25 million have been offered to the general public.

The allocation policy will be announced by July 27.  

This was the second over-subscription of a major bond issue in days.

Yesterday, Midi said its €50 million 4% secured bonds closed shortly after opening last Monday after applications exceeded €100 million.

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