Mediterranean Investments Holding plc's €40 million bond issue was over-subscribed and closed immediately on opening yesterday, the company said.

The 7.15% 2015-2017 bonds were issued in euro with a nominal value of €100 per bond, in sterling with a nominal value of £100 per bond, and in US dollar with a nominal value of $100 per bond.

The proceeds from the bonds will be principally used in furthering the company's expansion strategy in the real estate market in Libya.

Bank of Valletta plc and HSBC Bank Malta are joint managers for the bond; BoV is bond registrar. Rizzo Farrugia & Co. are sponsoring stockbrokers.

MIH is a subsidiary of Corinthia Group of Companies.

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