AX Investments is planning to a €40 million bond issue, redeemable in 2024.
The company is awaiting approval from the Malta Financial Services Authority for the bonds to be listed on the Malta Stock Exchange.
Proceeds from the bond will be used to develop a retirement complex in Naxxar, for corporate funding and to finance the redemption of €11.6 million 6.7% AX Investment Bonds which will be redeemed early in December 2014. Holders of these bonds will be given preference for the new bonds.
The new bonds will have a nominal value of €100 and will be issued at €100 per bond. They will be guaranteed by AX Holdings Ltd.