AX applies for 10-year bond issue
The Board of Directors of AX Investments has submitted an application to the Malta Financial Services Authority to list €40 million in bonds redeemable in 2024.
The net proceeds from the bonds will be used by the AX Group to develop a retirement complex in Naxxar, for general corporate funding purposes and to finance the redemption of €11.6 million 6.7 per cent AX Investment Bonds 2014-2016 which will be redeemed early on December 15, 2014.
The bonds will have a nominal value of €100 and will be issued at €100 per bond and guaranteed by AX Holdings Limited.
The company will be granting holders of the 6.7 per cent AX Investments Bonds 2014-2016 preference to subscribe to the new bonds by surrendering maturing bonds.