€15 million bonds by Simons Farsons Cisk oversubscribed 'within minutes'

€15 million in unsecured bonds placed on offer by Simonds Farsons Cisk p.l.c's was closed within minutes this morning because of a heavy oversubscription.

Louis A Farrugia, Group Chief Executive of Simonds Farsons Cisk p.l.c. said: "The response of investors to this bond issue has been overwhelming and is a clear indicator of the support which Farsons continues to enjoy. It is also a signal of the confidence in our brands and our future prospects."

As previously announced, proceeds from this bond issue shall be used to finance a bond exchange programme for Farsons' 6.6% Bonds 2010-2012, which shall be redeemed in November 2010, and also for the general financing requirements of the Farsons Group, as it takes the next steps in its strategic development programme.

The bonds have a nominal value of €100 each and will be issued at par. They will be redeemed on 15^th June 2020 or earlier, at the company's discretion, at any date after 15^th June 2017.

The company will shortly be announcing the allocation policy for these bonds, in line with the published prospectus.