IZI Finance plc (“Issuer”), has announced the issue of €30,000,000 Unsecured bonds at 4.25% at a nominal value of €100 per bond, redeemable in 2029 (the “Bond Issue”), following approval by the Listing Authority.
This bond issue will be subject to a minimum of €5,000, and will be issued at par. The interest rate of 4.25 per cent will be paid annually on 14th April, with the first interest payment date being 14th April 2023.
The proceeds from the Bond Issue, will be utilised by the Issuer for the following purposes, in the amounts and order of priority set out below:
- an amount of approximately €16.2 million will be used to part finance the IZI Finance Group’s projected capital expenditure in connection with, and for the duration of the term of, the National Lottery Concession,
- an amount of approximately €8.5 million will be used to finance the IZI Finance Group’s projected capital expenditure in connection with, and for the duration of the term of, the Dragonara Casino Concession,
- an amount of approximately €3.9 million will be used to part finance the IZI Finance Group’s projected capital expenditure for the years 2022 to 2025 in connection with the IZI Finance Group’s retail gaming operations,
- an amount of approximately €0.8 million will be used for general corporate funding purposes of the IZI Finance Group.
Full details about this Bond Issue are set out in the Prospectus dated 22nd March 2022 which can be found here.
MeDirect will be accepting applications from anyone, who is interested. All applications must be received by not later than 7th April 2023. In the event of over-subscription, the Issuer reserves the right to close the Offer Period before this date.
If you are interested in applying, please send us a Secure Mail or contact your Relationship Manager.
For further information, please call us on (+356) 2557 4400 or send an email to customerservice@medirect.com.mt.
The information set forth in this article is only for informative purposes and should not be construed as an offer to sell or solicitation of an offer to subscribe for or purchase any investment. The information provided is subject to change without notice and does not constitute investment advice or any guarantee of returns. Please consider the terms and conditions governing the relevant investment prior to making any investment decision. Investors should note that at worst they may lose all of their invested principal in the event of default, insolvency and/or bankruptcy of the relevant issue. The financial instruments discussed may not be suitable for all investors and investors must make their own informed decisions and seek their own advice regarding the appropriateness of investing in financial instruments or implementing strategies discussed herein.
MeDirect Bank (Malta) plc has based this document on information obtained from sources it believes to be reliable but which have not been independently verified. MeDirect Bank (Malta) plc does not therefore provide any guarantees, representations or warranties. The value of any investment or income may go up as well as down and past performance is no guarantee of any future performance. When an investment is denominated in a currency other than your local or reporting currency, changes in exchange rates may have an adverse effect on your investment.
MeDirect Bank (Malta) plc, company registration number C34125, is licensed by the Malta Financial Services Authority under the Banking Act (Cap. 371) and the Investment Services Act (Cap. 370). This material is intended only for the use of the recipient and shall not be reproduced in any way, whether in whole or in part, by the recipient. Any unauthorised disclosure, use or dissemination, either in whole or in part, of the material contained within is strictly prohibited.
