Hili Finance Company plc, a subsidiary of Hili Ventures Ltd, has launched an €80 million bond issue, maturing in 2029.
The unsecured bonds, at a nominal value of €100 per bond issued at par, bear an annual interest rate of 3.8%. Funds will be predominantly directed to the acquisition of Kemmuna Ltd, the owner and operator of the Comino Hotel & Bungalows. €10 million will be advanced to Cobalt Leasing Ltd to finance the acquisition of new containers to be leased to shipping lines on a long-term basis. The remaining balance will be used to fund group-wide investment opportunities.
More information about Hili Finance Company plc's bond issue is available from the Prospectus dated July 18, 2019, which is downloadable at www.hilifinance.com or available from authorised financial intermediaries from July 26.
Application forms are available from July 30 from authorised financial intermediaries. Subscriptions close on August 20, or earlier if the bond issue is over-subscribed.
Interest on the bonds commences on August 27 and refunds of unallocated monies will be made by September 3. The bonds are expected to be admitted to the Malta Stock Exchange on September 4. Trading is expected to commence on September 5.
Hili Finance Company plc will announce the basis of acceptance of applications and the allocation policy to be adopted by not later than August 27, 2019.
Disclaimer:
The value of investment can rise as well as fall. Past performance is not necessarily indicative of future performance. Investors should seek the advice of an independent, authorised financial intermediary before deciding to invest in listed financial instruments.