New €35 million bond issue by Island Hotels Group

Island Hotels Group Holdings plc received regulatory approval today to issue 350,000 bonds of 6% interest with maturity in 2024, of a nominal value of €100 per bond issued at par for an aggregate of €35,000,000.

Up to an aggregate amount of €2,500,000 of these news bonds shall first be allocated to those who are existing shareholders or Island Hotels Group employees as at close of business on the 9 May 2014. Following such allocations, any remaining new bonds shall be allocated to applications submitted by the general public without priority or preference.

The company entered into conditional private placement agreements with Curmi & Partners, and Rizzo, Farrugia & Co (Stockbrokers), allocating respectively €5 million and €10 million of the new bonds.

Full details of the issue of the new bonds are included in the prospectus dated 6 May 2014 which will be available at the registered office of the company and at authorised financial intermediaries from 12 May 2014.