Mariner Finance p.l.c. 5% Unsecured Bond 2032 

Mariner Finance p.l.c. (the “Issuer”) has announced the issuance of up to a €44,000,000 5% Unsecured Bond maturing in 2032, having a nominal value of €100 per Bond issued and redeemable at par. 

A copy of the prospectus is available here. 

If you wish to apply for these bonds, kindly follow the How to Apply section at the bottom of this news item or contact us on +25 688 688 or [email protected] or via live chat on ww.cc.com.mt for more information. 

BUSINESS OVERVIEW: 

The Issuer is the holding, finance and investment company of its main operating subsidiary, SIA Baltic Container Terminal (BCT), which is engaged in the provision of port and related services in the port of Riga, Latvia, over which it holds a port concession licence expiring in March, 2047. Moreover, the Issuer owns and operates the Merkela Property, a commercial and office building of circa 3,300 sqm in Riga, Latvia which, as at March, 2022, was valued at €4,371,000. The Issuer also owns a site in Latvia which, as at 26 January, 2018, was valued at €82,000. 

USE OF PROCEEDS: 
 
The proceeds from the Bond Issue, which net of Bond Issue expenses are expected to amount to approximately €43,120,000, will be utilised by the Issuer for the following purposes:  

(a) an amount of up to €35,525,000 in the form of Exchangeable Bonds surrendered by Existing Bondholders in favour of the Issuer by virtue of an Exchangeable Bond Transfer resulting in the purchase of Exchangeable Bonds from said Existing Bondholders by the Issuer, for cancellation (as at the date of the Prospectus the total value of Exchangeable Bonds in issue stands at €35,000,000, with an additional amount of circa €525,000 attributable to the payment of Cash Settlements arising from the aforementioned Exchangeable Bond Transfer); and  

(b) an amount of circa €7,595,000 shall be applied towards general corporate funding purposes. Such proceeds may be used, in part, to finance capital expenditure of the Issuer or any of its Subsidiaries. 

HOW TO APPLY: 

Our Moneybase Invest clients can apply online whilst our Financial Advisory clients can speak to their Financial Advisor at one of our four branches (Mosta, Sliema, Birkirkara and Fgura) by calling us on +25 688 688. 

Should you prefer to use our Moneybase Invest platform, kindly follow the instructions below:  

If you are a holder of the existing 5.3% Mariner Finance Plc 2024 bonds, enter the instrument name 5% Mariner Finance 2032 – Exchange to exchange your existing bonds for New Bonds.  You can also apply for Additional Bonds using the instrument 5% Mariner Finance 2032 – Additional. 

New subscribers can apply by using the instrument name 5% Mariner Finance 2032 – New Applicant.  

All orders must be submitted by not later than the 16^th of December 2022 at 12:00 (closing date). However, kindly be informed that the offering may close earlier if oversubscribed.

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The value of the investment can down as well as up and past performance is not necessarily indicative of future performance. Investing in the bonds of the Issuer may result in a loss of some or all of the capital invested.  

Prospective investors wishing to subscribe for Bonds of the Issuer should do so on the basis of the Prospectus, including the risks and rewards therein. Prospective investors undertaking execution only services are advised that CCIS is not required to undertake an appropriateness assessment and investors do not benefit from the corresponding protection afforded under the Conduct of Business Rules. 

Issued by Calamatta Cuschieri Investment Services Limited, which is licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap 386. CCIS, Ewropa Business Centre, Triq Dun Karm, Birkirkara BKR 9034, Malta.