FIMBank said today that it plans to issue €25m in 4.25% 2013 bonds subject to an over-allotment option of a further €10 million, in euros and dollars.
The bonds shall be offered to the public at their par value of €100 or US$100 respectively. Preferred applicants, namely shareholders and bondholders, directors and employees of the company will be entitled to subscribe to the bonds at a discount of 1% to their par value, i.e. €99 and/or US$99.
Subject to the due approvals from the Listing Authority, the proceeds will be used to provide funding for the longer-term international trade finance business of the company.