FIMBank plc said this week that it has lodged an application for the issue of 4.25% 2013 bonds for an aggregate amount of €25 million, subject to an over-allotment option of a further €10 million, in either euro or US dollar denominations.

The bonds are to be offered to the general public at their par value of €100 or US$100 respectively. Preferred applicants, namely shareholders and bondholders on the Register at the Central Securities Depository of the Malta Stock Exchange, and directors and employees of the company, in both instances as at 30 September 2010, will be entitled to subscribe to the bonds at a discount of one per cent to their par value, – €99 and/or US$99. Within certain conditions, preferred applicants will also be entitled to preferential allocations.

Subject to due approval from the Listing Authority, the proceeds from the issue will be used to provide funding for the company’s longer-term international trade finance business.