New Bond Offer – Izola Bank plc
New Bond Issue – 5% Izola Bank p.l.c. Unsecured Subordinated Bond 2027-2032
We are pleased to inform you that Izola Bank p.l.c. have announced the issuance of €14,000,000 Unsecured Bonds maturing in 2032 with a callable option in 2027.
The bonds will offer a coupon of 5% per annum and will be issued at a price of €100 per bond. Up to €8,000,000 of the new bond offer will be available to exchange the 5% Izola Bank p.l.c. Unsecured Bonds 2025. Current bondholders who opt for the exchange offer will benefit from a premium of 2.50% on the nominal value, subject to a minimum subscription of €10,000.
Jesmond Mizzi Financial Advisors Ltd (JMFA) is participating in this issue as one of the authorised financial intermediaries and is currently accepting applications for this bond. The minimum subscription amount for new applications in the public offer has been set at €10,000 with multiples of €100 thereafter.
Prospective clients should refer to the Prospectus dated 22nd July 2022, which may be obtained from our offices in hard copy free of charge, electronically by e-mail on request, or by clicking the download button below. Application forms shall be mailed to the holders of the Exchangeable Bonds on the 27th July 2022.
DOWNLOAD PROSPECTUS DOWNLOAD INVESTOR PRESENTATION
| Issuer | Izola Bank p.l.c. | |
|---|---|---|
| Issue Type | Unsecured Subordinated Bond Issue | |
| Issue Size | €14,000,000 | |
| Offer Period | 1st August 2022 – 7th September 2022 | |
| Expected Date of Commencement of Trading | 26th September 2022 | |
| Exchange Offer | Public Offer | |
| Available for Subscription | €8,000,000 | €6,000,000 |
| Bond Offer Price | €100 per bond, issued at par | €100 per bond, issued at par |
| Premium Bonus | 2.50% | NIL |
| Minimum Subscription | €10,000 and in multiples of €100 thereafter | €10,000 and in multiples of €100 thereafter |
You may contact us on freephone number 8007 2206 or speak to our Investment Advisors at one of our branches in Hamrun, Valletta, Birkirkara or Ta’ Xbiex (by appointment).
This information is not intended to constitute an offer or agreement to buy or sell investments. The investment referred to in this document may not be suitable or appropriate for every investor. This bond is a complex product subject to BRRD II resolution regime and may not be suitable for retail investors. Retail investors may only subscribe for bond after passing a suitability test. No liability is accepted whatsoever for any loss howsoever arising from any information in this document. The value of investments can go down as well as up. Investors may get back less than their initial investment and past performance is no guarantee of future performance. Jesmond Mizzi Financial Advisors Limited or any connected company, their clients, officers and employees may have a position or engage in transactions in the bond issue.