IHI announces €55 million secured bond issue

International Hotel Investments has announced a €55 million secured bond carrying an interest rate of four per cent and redeemable in 2026.

Existing IHI shareholders will be given preference to subscribe to the first €30 million of the bonds. The remaining €25 million will be offered to the general public.

The bonds are secured by the Corinthia Hotel Budapest.

IHI, the publicly traded company of Corinthia, owns 11 five-star hotels in several countries as also offers hotel management services to third parties.

IHI was launched as a publicly traded company in April 2000 by Corinthia Palace Hotel Company Limited, its founder shareholder, which contributed its Corinthia brand and a five-star hotel asset to the company.

Corinthia is a global collection of luxury five-star hotels founded by the Pisani family of Malta in 1962. Since 2000, Corinthia has evolved into a multifaceted public company, trading as International Hotel Investments (IHI) plc, which is the owner, developer and operator of Corinthia Hotels and commercial real estate worldwide.