The Mizzi Organisation has submitted an application for the admissibility to listing of a proposed issue of €25 million new bonds redeemable between 2016 and 2019. The issue will be subject to an over-allotment option of €5 million.
The bonds will be guaranteed by Mizzi Holdings, Consolidated Holdings Ltd, Kastell Ltd and the General Soft Drinks Ltd.
The company said in a statement to the Malta Stock Exchange that the proceeds of the new bonds will be used primarily for the redemption of the Mizzi 6.7% Bond 2009-2012 and to refinance the guarantors' existing bank facilities.
The company intends to give preference to existing bondholders who surrender their current holding in favour of the new bonds. October 30 will be considered as the cut-off date for registration.
See also
http://www.timesofmalta.com/articles/view/20091018/business/mizzi-invests-euro-75m-in-7-years