International Hotel Investments p l c : Issue of €60,000,000 International Hotel Investments p.l.c. 6% Unsecured Bonds 2033 Basis of Acceptance
November 02, 2023 at 05:26 pm IST
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COMPANY ANNOUNCEMENT
The following is a Company Announcement issued by International Hotel Investments p.l.c. (the "Company" or the "Issuer") pursuant to the Capital Markets Rules, as issued by the Malta Financial Services Authority:
Issue of €60,000,000 International Hotel Investments p.l.c.
6% Unsecured Bonds 2033
Basis of Acceptance
With reference to Company Announcement IHI357 issued on 19 October 2023 in relation to the oversubscription of the €60,000,000 6% unsecured bonds 2033 (the "Bonds" or the "Bond Issue") by International Hotel Investments p.l.c., the Board of Directors of the Company is pleased to announce the basis of acceptance for the Bonds.
In terms of the Prospectus dated 26 September 2023 (the "Prospectus"), the Bonds were available for subscription by: i) holders of the 5.8% International Hotel Investments p.l.c. Bonds 2023 (the "2023 Maturing Bonds" or the "Maturing Bondholders"); ii) holders of the 6% International Hotel Investments p.l.c. Bonds 2024 (the "2024 Maturing Bonds" or the "Maturing Bondholders");
holders of securities within Corinthia Group (the "Preferred Applicants"), and iv) Corinthia Group Personnel.
The Company received a total of 6,189 applications (including applications under nominee) for a total value of €72,132,000.
Maturing Bondholders were given preference to subscribe for the Bonds by surrendering their respective 2023 Maturing Bonds and 2024 Maturing Bonds, subject to a minimum application of €2,000. Maturing Bondholders were also given the opportunity to apply for additional Bonds with such additional amounts ranking pari passu with applications received from Preferred Applicants and Corinthia Group Personnel.
Total 2023 Maturing Bonds transferred to the Company in exchange for Bonds amounted to €5,942,400 representing 59.42% of the total 2023 Maturing Bonds whereas total 2024 Maturing Bonds transferred to the Company in exchange for Bonds amounted to €24,555,300 representing 70.16% of the total 2024 Maturing Bonds. These amounts were allocated in full together with the guaranteed minimum of €2,000 to applications by Maturing Bondholders whose holding in their respective Maturing Bond was under this threshold.
22 Europa Centre - Floriana FRN 1400 - Malta - Tel (356) 21233141 - Fax (356) 21234219 e-mail: ihi@corinthia.com - www.corinthiagroup.com - Co. Reg. No: C26136
Additional amounts applied for by Maturing Bondholders, Preferred Applicants and Corinthia Group Personnel, were allocated the first €5,000 in full and 44.249% on the remaining amount rounded to the nearest €100.
In accordance with the Prospectus, interest on the Bonds will commence accruing as from 14 November and refunds of unallocated monies will be made by latest 9 November 2023.
The Bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 13 November 2023 and trading is expected to commence on 14 November 2023.
The Company also announces that trading in the 2024 Maturing Bonds will resume as from 13 November 2023.
Redemption of outstanding amounts in the 2023 Maturing Bonds together with payment of the prevailing interest will be made on 14 November 2023.
Holders of the 2024 Maturing Bonds electing to subscribe for the Bonds by surrendering their respective holdings in the 2024 Maturing Bonds shall, within 30 calendar days from admittance of the Bonds to listing, receive interest at the rate of 6% for the period between and including 16 May 2023 and 13 November 2023.
The Board of Directors of the Issuer wishes to thank all applicants and authorised financial intermediaries for their continued support and trust in the Company.
Jean-Pierre Schembri
Company Secretary
2 November 2023
22 Europa Centre - Floriana FRN 1400 - Malta - Tel (356) 21233141 - Fax (356) 21234219 e-mail: ihi@corinthia.com - www.corinthiagroup.com - Co. Reg. No: C26136
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International Hotel Investments plc published this content on 02 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2023 11:55:15 UTC.
International Hotel Investments p.l.c. is an investment company, which is engaged in the business of ownership, development and operation of hotels, leisure facilities, and other activities related to the tourism industry and commercial centers. Its segments include European countries, Eastern European countries and North Africa. Its portfolio includes Owned Hotels, Managed Hotels, Commercial Properties, New Projects, Catering, Corinthia Developments International and Project Management. The Company operates a catering operation, which provides event catering in several venues in Malta, as well as contract catering, including international airlines flying from Malta. The Company also provides architectural engineering, management and technical construction services. It has developed commercial real estate in conjunction with its hotels. It also manages a number of properties in various locations, including Malta, Khartoum, Budapest, Bucharest, Prague, and Tunisia.
INTERNATIONAL HOTEL INVESTMENTS P.L.C. 
