€30 million in bonds issued by Simonds Farsons Cisk and the Eden Leisure Group were snapped up yesterday.

Farsons said its offer of €15 million 2017-2020 six per cent unsecured bonds was closed within minutes yesterday because of a heavy over-subscription.

Louis Farrugia, Farsons Group CEO said: "The response of investors to this bond issue has been overwhelming and is a clear indicator of the support which Farsons continues to enjoy. It is also a signal of the confidence in our brands and our future prospects."

Proceeds from this bond issue will be used to finance a bond exchange programme for Farsons' 6.6 per cent bonds 2010-2012, which will be redeemed in November, and also for the general financing requirements of the Farsons Group, as it takes the next steps in its strategic development programme.

The bonds have a nominal value of €100 each and will be issued at par. They will be redeemed on June 15, 2020 or earlier, at the company's discretion, at any date after June 15, 2017.

The company will shortly be announcing the allocation policy for these bonds, in line with the published prospectus. Meanwhile, Eden Finance plc also announced that its €15 million 6.6 per cent 2017-2020 bond issue had to be closed early because of over-subscription.

Ian De Cesare, chairman of Eden Finance plc, stated: "The number of individual applicants has almost doubled from our initial list of holders of Eden Finance plc 2010 bonds signalling that the local public are keen to invest in a stable company with a clear track record in the hospitality and entertainment sectors . I would like to thank the public, banks and the financial intermediaries for their strong support."