Eden Leisure to issue €40 million unsecured 4% bond

Eden Leisure Group announces early redemption of its €13.9 million 6.6% bonds (2017-2020).

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Matthew Vella
28 March 2017, 8:18am
Eden Leisure Group has announced the early redemption of its €13.9 million 6.6% bonds (2017-2020).

The hotel, casino and entertainment group said the bonds will be redeemed on 16 June 2017, the first early redemption date provided for in the prospectus issued by the company in 2010.

Following regulatory approval, Eden Finance will announce the issue of €40,000,000 unsecured bonds due in 2027, with an interest coupon of 4% payable annually in arrears.

The bonds are guaranteed by Eden Leisure Group Limited, and preference will be given to holders of the existing bonds who are on the register of bondholders as at 27 March 2017, to subscribe to the bonds by surrendering existing Eden bonds.

Minimum subscription is €2,000. The bonds have a nominal value of €100 and are being issued at €100 per bond. The bonds will be redeemed on 28 April 2027 at €100 per bond.

The 2017-2020 bond issue was meant for Eden to finance funding requirements of the business of the Group and its associated companies, and raise money for the purpose of its business.

The group runs the InterContinental Hotel, the Casino Malta, and the Eden Cinema among other interests.

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Matthew Vella is executive editor at MaltaToday.