Melita Capital said today that its €25 million 7.15% 2014 – 2016 bond issue has been over-subscribed and has now been closed.

Group chairman Joe Gasan said the success of the issue was further confirmation of the reputation enjoyed by Melita in the Maltese Islands.

"I am very grateful to the Maltese public for the continued trust shown in Melita. The bond issue generated very good response and I take this opportunity to thank the investors, the banks, all financial intermediaries and advisers for their support in making it a success.”

This was the first bond issue by Melital to finance projects including the fibre optic submarine cable linking Malta to the rest of the world and the next generation infrastructure for mobile communications.

A combined offer of €14 million in bonds and €17.6 million in equity by Island Hotels Group was also oversubscribed last week while a €20 million 6.25 per cent bond issued by Corinthia Finance plc on September 15 was oversubscribed by €14,156,000.

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