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

Hili Ventures ventured into the oil & gas industry with a major acquisition in 2020.

Last Updated on Friday, 11 February, 2022 at 12:07 pm by Andre Camilleri

Bonds bear interest rate of 4%

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, namely holders of listed securities of 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, while the rest of the proceeds will be used for general corporate funding purposes.

More information about Hili Finance Company plc’s bond issue is available from the Prospectus dated January 27, 2022, which is downloadable at www.hilifinance.com.

Application forms will be made available to preferred applicants on February 14. Subscriptions close on March 4, or earlier if the bond issue is over-subscribed. Interest on the bonds commences on March 11 and refunds of any unallocated monies will be made by March 18. The bonds are expected to be admitted to the Malta Stock Exchange on March 21. Trading is expected to commence on March 22.

Hili Finance Company plc will announce the basis of acceptance of applications and the allocation policy to be adopted by not later than March 11, 2022.

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