Orphanides: Completion of bond issue – Absorbance of €19.5m
17/6/2011 15:57
Further to its announcement dated April 19, 2011, Orphanides Public Company Limited announces the completion of the procedure for the issue of a guaranteed bond of 5-year duration of stable rate of 6.25% (annually), which bears a guarantee of interest and capital payment by Marfin Popular Bank Public Co Ltd. Via the private placement followed, a total sum of €19,150,000 was absorbed via the issue of 191,500 bonds of nominal value €100 each. The allocation letters were posted to the beneficiaries on June 16, 2011, pursuant to the issue terms of the bond.
The Company takes all necessary measures for the listing of the Bond in the CSE, which include the preparation and the submission of a Prospectus to the SEC and the application for listing of new securities from the CSE (Appendix 12 – KDP 326/2009). The date that the Bond will start trading in the CSE will be announced following the safeguard of the relevant approvals.
The Company would like to thank the Issue Manager Marfin CLR (Financial Services) Ltd for its cooperation and especially the investors who showed confidence. The Company believes that the absorbance of the aforementioned sum, which covers 95% of the issue, is satisfactory, since the private placement was carried out in a period characterized by a series of negative developments in Cyprus and mostly in Greece.
The Company takes all necessary measures for the listing of the Bond in the CSE, which include the preparation and the submission of a Prospectus to the SEC and the application for listing of new securities from the CSE (Appendix 12 – KDP 326/2009). The date that the Bond will start trading in the CSE will be announced following the safeguard of the relevant approvals.
The Company would like to thank the Issue Manager Marfin CLR (Financial Services) Ltd for its cooperation and especially the investors who showed confidence. The Company believes that the absorbance of the aforementioned sum, which covers 95% of the issue, is satisfactory, since the private placement was carried out in a period characterized by a series of negative developments in Cyprus and mostly in Greece.
