Last Updated 21 | 01 | 2014 at 13:09

News

AX applies for 10-year bond issue

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di-ve.com news
editorial@di-ve.com

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.

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