Island Hotels Group is planning a €35 million bond issue, maturing in 2024.

The 350,000 bonds will be offered at a nominal value of €100 per bond, subject to approval by the listing authority. The bonds will be used for the refurbishment and construction works at the Radisson Blu Resort, St Julian’s, the development and operation of the Costa Coffee brand in Spain and for general corporate funding purposes.

The group said that first preference of €2.5 million of the new bonds will be given to existing shareholders and employees.

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