Eden Finance p.l.c. announces €15 million 6.6% bond issue
Eden Finance p.l.c. formally announced today the issuing of 6.6% unsecured bonds for an aggregate amount of €15 million, guaranteed on a joint and several basis by Eden Leisure Group Ltd.
The announcement was made following approval by the Listing Authority and subsequent registration of the related prospectus.
The bonds have a nominal value of €100 each and will be issued at par. The minimum amount of subscription is of €1,000 and multiples of €100 thereafter. They will be redeemed on 15th June 2020 or earlier, at the Company's discretion, at any date after 15th June 2017.
Eden Finance p.l.c. has also applied to the Listing Authority for the bonds to be admitted to the Official List and to the Malta Stock Exchange.
Trading of these bonds is expected to commence in June, the company said.
Existing Bondholders of Eden Finance p.l.c. 6.7% 2010 Bonds are being offered preference to transfer their existing holdings to the new 6.6% 2017-2020 Bond between the 13 May and the 27 May. The offer will be open to the public during the Public Offer Period commencing on 31 May, up to and including 4 June, 2010. The Public Offer Period is subject to right of the Issuer to close subscription lists earlier in the case of over-subscription.
All applications may be submitted through any of the Authorised Financial Intermediaries.
Mr. Ian De Cesare, Group Managing Director said the proceeds from this Bond Issue would be used to re-finance the outstanding amount of the Eden Finance p.l.c. 6.7% 2010 Bonds. Any remaining proceeds will be used for general corporate funding purposes.