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GlobalCapital announced the allocation policy applicable for its Euro 10 million bond offering issued two weeks ago and which was over-subscribed in two hours. The issuer has exercised the over-allotment option of Euro 7 million, bringing the total bond issue to Euro 17 million.
GlobalCapital’s CEO Nicholas Portelli said that the company received over 1,200 applications for a total value exceeding Euro 19 million.
Applications made at pre-placement stage for a total value of Euro 8.5 million would be met in full.
For the remaining general public’s Euro 8.5 million, applications up to Euro 10,000 will be met in full. In the case of applications between Euro 10,001 and Euro 100,000, the first Euro 10,000 will be met in full while the first 18.6% will be met for the remaining amount.
In the case of applications over Euro 100,001, the first Euro 10,000 will be met in full while the first 15.3% will be met for the remaining amount.
The allocation is to be rounded down to the nearest Euro 100. The total bond register will have a value of Euro 17 million.
Global Capital Chairman Christopher J. Pace thanked all applicants for their support as well as HSBC who acted as Manager, Registrar, Sponsor and Underwriter and other advisors of the company for their role in the success of the bond issue.
All applicants for the bond issue will be receiving a communication from the company on their entitlement and refund cheques where applicable.
Interest on the bonds shall commence as from 26 May 2006. |
