Hili Finance Company plc launches five-year €50 million bond issue

Hili Finance Company plc, a subsidiary of Hili Ventures Ltd, has launched a five-year €50 million bond issue with an annual interest rate of 4%.

The unsecured bonds, at a nominal value of €100 per bond issued at par, are open to subscription to all Hili Ventures group securities holders – 1923 Investments plc, Harvest Technology plc, Hili Properties plc, Premier Capital plc, and Hili Finance Company plc.

The minimum subscription amount is €5,000 and in multiples of €100 thereafter.

The proceeds from the bond issue will be on-lent to the bond guarantor, Hili Finance Company’s parent Hili Ventures, to repay intercompany loans and part-repay a major acquisition finalized in 2020

The rest of the proceeds will be used for general corporate funding purposes.

Application forms will be made available to preferred applicants on 14 February and subscriptions close on 4 March, or earlier if the bond issue is over-subscribed.

Interest on the bonds commences on 11 March and refunds of any unallocated monies will be made by 18 March.

The bonds are expected to be admitted to the Malta Stock Exchange on 21 March and trading is expected to commence a day later.