Curmi & Partners

New Bond Issue

New Issue : Simonds Farsons Cisk plc 3.50% Unsecured Bonds 2027

Maturity 13th September 2017
Coupon 3.50%
Price €100
Coupon Frequency Annually
Yield 3.50%
Rank Unsecured
Amount Issued €20 million

Use of proceeds:

The proceeds from the Bond Issue, which net of expenses are expected to amount to approximately €19.6 million, will be used by the Issuer for the following purposes:

  • A maximum amount of €15 million will be used by the Issuer for the purpose of redeeming any outstanding balance of the Bonds 2017-2020 remaining in issue as at the 1st of August (“Cut-off Date”)
  • The remaining amount of approximately €4.6 million will be used by the Issuer for general corporate purposes including the funding of capital investments programme planned for the next few years

Application Procedure

The Issuer shall allocate the Bonds on the basis of the following policy and order of priority:

  • Maturing Bondholders: up to the extent of their holdings of Maturing Bonds on the Cut-off Date
  • Maturing Bondholders: the balance of the Bonds not subscribed for by Maturing Bondholders by means of a Maturing Bond Transfer shall be made available for subscription to Maturing Bondholders in respect of any additional Bonds applied for which exceed exceeding in value the aggregate nominal value of Maturing Bonds
  • Selected Authorised Financial Intermediaries through an Intermediaries’ Offer: any balance of the Bonds not subscribed to by Maturing Bondholders will be made available to Authorised Financial Intermediaries for subscription through an Intermediaries’ Offer

The Bonds will be issued in multiples of €100. The minimum subscription amount of Bonds that can be subscribed for by applicants is €2,000.  

Should you be interested in participating, kindly contact Ms Emanda Spiteri Lucas or Ms Mariella Mifsud on 21347331.