AX Holdings Ltd said today that it has submitted an application to the MFSA for the listing of €40m in bonds redeemable in 2024.

The bonds will be used for the development of a retirement complex in Naxxar, for general corporate funding and to finance the redemption of €11.6m 6.7% AX Investments bonds 2014-2016 which will be redeemed on December 15, 2014.

The company will be granting the holders of the 6.7% AX Investments bonds preference to subscribe to the new bonds by surrendering the maturing bonds

The new bonds will have a nominal value of €100 and will be issued at €100 per bond.

No further details were given.

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