The Board of Directors of Hili Finance Company p.l.c. (the "Issuer"), part of Hili Ventures Ltd (the "Guarantor" or "Hili Ventures" or "Group") has announced the issuance of €80,000,000 3.80% unsecured bonds redeemable at their nominal value in 2029 (the "Bond Issue").
The proceeds from the Bond Issue will be used by the Issuer for the following purposes; i) an amount of circa €59,000,000 will be used for the purpose of financing the acquisition of 100% shareholding in Kemmuna Limited (C15344), a company which owns the Comino Hotel and Bungalows; ii) an amount of €10,000,000 shall be advanced to Cobalt Leasing Ltd (a container leasing company forming part of Hili Ventures) in exchange for the issue and allotment of ordinary shares in favour of the Guarantor. The said company will utilise the funds to part-finance the acquisition of new containers for the purpose of leasing same to container shipping lines on a long-term basis; iii) the remaining balance will be applied to fund Group-wide investment opportunities presently being considered, or which may arise in the near future, by the board of directors of the Guarantor, including, but not limited to, the setting up of a marine division.
In the event that the Bond Issue is not fully subscribed, the Issuer will proceed with the listing of the amount of bonds subscribed for. Accordingly, the Guarantor shall apply the net proceeds received from the Issuer in the manner and order of priority set out in (I) to (III) above. Any residual amounts required by the Guarantor for the purposes of the uses specified in (I) to (III) above which shall not have been raised through the Bond Issue, shall be financed from the Group’s general cash flow and/or bank financing.
Please click here to view the prospectus for further detailed information on the Bond Issue.
MeDirect Bank (Malta) plc will be distributing these Bonds.
If you wish to participate in this Bond Issue you may visit one of our branches (located at Tignè Point Sliema, Mosta, Paola and Rabat, Gozo). For more information, you can also contact us on +356 2557 4400 or send an email to firstname.lastname@example.org.
The information set forth in this article is only for informative purposes and should not be construed as an offer to sell or solicitation of an offer to subscribe for or purchase any investment. The information provided is subject to change without notice and does not constitute investment advice or any guarantee of returns. Please consider the terms and conditions governing the relevant investment prior to making any investment decision. Investors should note that at worst they may lose all of their invested principal in the event of default, insolvency and/or bankruptcy of the relevant issue. The financial instruments discussed may not be suitable for all investors and investors must make their own informed decisions and seek their own advice regarding the appropriateness of investing in financial instruments or implementing strategies discussed herein.
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