A €20 million Corinthia Finance p.l.c. 6.25% 2019 bond issue was over-subscribed today, on the first day of issue.

Corinthia Finance also exercised the over-allotment option of €5 million, to accommodate up to €25 million worth of applications.

The net proceeds from the bonds will be principally used to redeem the outstanding amount of the 6.7% Bonds 2009 and the remaining balance of the bonds will be advanced to Corinthia Palace Hotel Ltd for use in its general corporate funding purposes. The funds will be employed to enable the Group to further develop business opportunities arising from its continued expansion.

"This success gives us great satisfaction as it provides another indication of the strong reputation enjoyed by the Corinthia Group," group chairman and CEO Alfred Pisani said.

He thanked the Maltese public for its continued confidence in the company.

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