GlobalCapital yesterday announced the allocation policy applicable for its o10 million bond offering which was issued last week and which was over-subscribed in two hours. The issuer has exercised the over-allotment option of o7 million, bringing the total bond issue to o17 million.

GlobalCapital’s CEO Nicholas Portelli said that the company received over 1,200 applications for a total value exceeding o19 million.

Applications made at pre-placement stage for a total value of o8.5 million would be met in full.

For the remaining public’s E8.5 million, applications up to o10,000 will be met in full. In the case of applications between o10,001 and E100,000, the first E10,000 will be met in full while the first 18.6 per cent will be met for the remaining amount.

In the case of applications over o100,001, the first o10,000 will be met in full while the first 15.3 per cent will be met for the remaining amount.

The allocation is to be rounded down to the nearest o100. The total bond register will have a value of o17 million.

GlobalCapital chairman Christopher J. Pace thanked all applicants for their support as well as HSBC who acted as manager, registrar, sponsor and underwriter and other advisors of the company for their role in the success of the bond issue.

All applicants for the bond issue will be receiving a communication from the company on their entitlement and refund cheques where applicable.

Interest on the bonds shall commence as from today.