GlobalCapital bond issue 2021 extended

GlobalCapital plc has announced that it will extend the offer period of the 5% unsecured 2021 €10,000,000 Bonds from the 30 May to the 8 June 2016.

The company said the length of the offer period originally contemplated in the prospectus did not coincide with market expectations, particularly as the company continues to receive interest from investors in the bond issue.

Accordingly, the offer period of the bond Issue is being extended to allow existing bondholders who expressed an interest in the bond issue the opportunity to subscribe to the bonds, both by way of existing bond transfer or by investing additional funds in cash; and for professional clients who have expressed an interest in the bond issue the opportunity to subscribe to any balance of the bonds not subscribed for by existing bondholders as at the cut-off date.

Majority shareholder, Investar p.l.c., has committed to subscribe directly or through third parties up to €5 million in nominal value of the bonds, in the event of a shortfall in the overall take-up of the bonds.

Sponsor Calamatta Cuschieri, acting as nominee for and on behalf of its professional clients, has also committed to subscribe up to an additional €5 million in aggregate in nominal value of the bonds in the event of a shortfall in the overall take-up of the bonds after the fulfilment by Investar p.l.c. of its commitment.

Such commitments amount in aggregate to €10,000,000, which is equivalent to the full amount of the bond issue.