Following the strong demand for the equivalent of €40 million 7.15 per cent 2015-2017 bond issue, Mediterranean Investments Holding plc, a member of the Corinthia Group of Companies, has outlined the allotment policy.

As subscriptions received at the placement stage were in excess of the €15 million that were set aside, the company satisfied around 86.9 per cent of subscriptions and refunded the rest to authorised financial intermediaries.

Applications received from investors who already hold investments in one or more of the Corinthia Group's listed companies, will be met in full up to the first €5,000 in the case of euro bonds; the first £4,200 in the case of sterling bonds; and the first $6,000 in the case of US dollar bonds.

Any balance on these applications will be scaled down to around 15 per cent while any ensuing unallocated balances will participate in the allocation policy applicable to the public.

General public applicants and unallocated applications from preferred applicants (at the preferential stage) will be met in full up to the first €4,300 in the case of euro bonds; the first £3,600 in the case of sterling bonds; and the first $5,200 in the case of US dollar bonds.

The remaining balances will be scaled down to around 9.3 per cent.

This means that euro bond applications up to €10,000, sterling bond applications up to £8,400, and US dollar applications up to $12,000 received from preferred applicants, accounting for 82 per cent of all applications received, will be accepted in full.

Interest on the bonds starts today. Allotment letters and refunds of unallocated monies will be paid by Monday by direct credit.