International Hotel Investments today announced the issue of a €55 million secured bond following approval from the Malta Financial Services Authority.

The bonds carry an interest rate of four per cent and are redeemable in 2026.

Existing IHI shareholders will be given preference to subscribe to the first €30 million of the bonds. The remaining €25 million will be offered to the general public.

The bonds are secured by the Corinthia Hotel Budapest.

IHI, the publicly traded company of Corinthia, owns 11 five-star hotels in several countries as also offers hotel management services to third parties.