Corinthia Finance plc – Allotment Policy – EUR 25 million 6.25% Bonds 2016-2019
Corinthia Finance plc – Allotment Policy – EUR 25 million 6.25% Bonds 2016-2019
Corinthia Finance plc announced that the Board of Directors the allotment policy to be applied to the applications received for its EUR 20 million Bond issue with an over-allotment option of a further EUR 5 million which closed on the first day of opening of subscription lists on September 15, 2009.
The Company received 1,614 applications, totalling EUR 14,043,300, from bondholders of the 6.7% Bonds 2009 representing more than 72% of the Maturing Bond. These applications will be met in full.
The Company also received EUR 20,112,700 from 2,606 applicants. These applications had to be scaled down to EUR 10,956,700 thereby allocating close to 54.5% of their application value. The Company has decided to adopt an allocation policy of favouring small investors and accordingly decided to exercise the following allocations:
• Applications having a nominal value up to and including EUR 5,000 will be met in full;
• In the case of applications for Bonds having a nominal value in excess of EUR 5,000 but lower than €EUR 50,000, the first EUR 5,000 will be met in full, along with 11.42% of the remaining balance; and
• In the case of applications for Bonds with a nominal value in excess of EUR 50,000, the first EUR 5,000 will be met in full, along with 11.42% of the next EUR 45,000 and 5% of the remaining balance.
Interest on the Bonds will commence as from the date of this announcement. Allotment letters and refunds of un-allocated monies will be dispatched by Thursday, September 24, 2009.
To view the official announcement, Click Here.