IHI announces €55 million secured bond issue

International Hotel Investments announces issue of €55 million secured bond following approval from the Malta Financial Services Authority.

The bonds are secured by the Corinthia Hotel Budapest.
The bonds are secured by the Corinthia Hotel Budapest.

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.