The €25million Melita Capital plc bond issue has been fully subscribed. Melita Capital plc received a total of €25,878,300 from 1,905 individual applicants. In September, Melita Capital plc issued €25million 7.15% Bonds 2014-2016 of a nominal value of €100 per bond issued at par with an over-allotment option of up to €30million. Camilleri Preziosi acted as legal advisers to the issuer.
The proceeds raised from the bond issue will be used mainly for the funding requirements of the Melita Capital Group Companies, principally, substituting project finance with respect to the laying and setting of a submarine fibre optic cable between Malta and Sicily and funding of the continued capital expenditure associated with the expansion and development of Melita Mobile Limited’s third generation mobile telephony network.