Corinthia Finance this morning announced the issue of €40m in unsecured bonds 2026 guaranteed by Corinthia Palace Hotel Company Limited.
It also announced the redemption of €39.9m 6.25% Corinthia Finance Unsecured Bonds 2016.
An application has been made to the Malta Financial Services Authority for listing of the new bonds.
The €39.9m 6.25% Unsecured Bonds (the exchangeable bonds) 2 will be redeemed on 24 September 2016 .
The net proceeds of the new bonds will be used to redeem the exchangeable bonds. Holders of the exchangeable bonds will get preference.
The last trading date in the exchangeable bonds is 11 March 2016 and trading will be suspended on 14 March 2016.