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 18th July , 2019, which is downloadable at www.hilifinance.com or available from authorised financial intermediaries from 26th July .
Application forms are available from July 30 from authorised financial intermediaries. Subscriptions close on 20th August, or earlier if the bond issue is over-subscribed.
Interest on the bonds commences on 27th August and refunds of unallocated monies will be made by 3rd September. The bonds are expected to be admitted to the Malta Stock Exchange on 4th September. Trading is expected to commence on 5th September.
Hili Finance Company plc will announce the basis of acceptance of applications and the allocation policy to be adopted by not later than 27th August 2019.