Corinthia Finance plc has outlined the allotment policy to be applied to the applications received for its €15 million bond issue which closed on its first day on Monday.

The company received applications totalling €12,046,700, from bondholders of the 6.5 per cent Bonds 2010, representing a take-up of over 84 per cent of the maturing bond. These applications will be met in full.

The company received €1,453,200 worth of new applications from existing bondholders and another €10,236,400 from new applicants through the intermediaries' offer.

These applications had to be scaled down to €2,953,300, allocating close to 25.3 per cent of their application value.

Interest on the bonds began on Wednesday. Allotment letters and refunds of unallocated monies were dispatched last Thursday.

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