Premier Capital has applied for a €65 million unsecured bond, the second largest since the Malta Stock Exchange was set up. Until now, the record for a bond issue was held by Bank of Valletta, which issued a €70 million bond in 2010.

Premier Capital has decided to redeem its €24.4 million bonds, which had a coupon rate of 6.8 per cent and were due to mature in 2020. The bonds were issued for a maximum period of 10 years with an early repayment option after seven years.

It said in a company announcement yesterday that preference would be given to holders of these exchangeable bonds, Hili Ventures Group bondholders and Hili Ventures Group stakeholders.

Premier Capital is the development licensee for McDonald’s in Malta, Greece, Latvia, Lithuania, Estonia and, as from January 22, 2016, also Romania.

The prospectus, explaining how the money will be used and what the coupon rate will be, will be announced once it has been approved.

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