News | Wednesday, 14 January 2009

MIDI €30m bond issue oversubscribed

MIDI plc’s €30 million bond issue yesterday closed applications just 90 minutes after opening, with €12 million collected at the pre-placement stage before applications opened to the general public.
An over-allotment option for a further €10 million will now bring the bond issue up to €40m.
Funds raised through this bond issue will be used for the Tigné Point development in Sliema.
MIDI chairman Albert Mizzi said demand for the bonds had been “overwhelming and even exceptional at the pre-placement stage,” despite negative international news weakening investor confidence.
“We are delighted and thank all those who showed confidence in MIDI plc, and those who have helped to make this bond issue such a huge success, particularly the financial intermediaries whose widespread participation was a key factor.”

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