Subscriptions for the 6.75 per cent €10 million bond issued by United Finance plc, a member of the United Group, closed as scheduled on Thursday. The bond issue has been fully subscribed and the company will be exercising the over-allotment option of €2 million bringing the total bond issue to €12 million.

In accordance with the prospectus issued on the June 27, preference will be given to holders of United Finance 2008 Bond, which opted to surrender the maturing bonds as consideration for an equivalent number of the new bonds. The basis of acceptance of applications for new applicants together with the allocation policy to be adopted will be announced shortly.

"This is a strong expression of regard, confidence and trust in the United Group," Edmund Gatt Baldacchino, director and chief executive officer of United Group and United Finance, said. The new bonds, issued at €100 per bond and bearing an interest rate of 6.75 per cent payable annually on June 30, will be admitted to the primary market of the Malta Stock Exchange.

An application for admittance has been made with the Malta Stock Exchange and it is expected that trading in the bond will commence shortly. The €12 million bond issue will be redeemed on any date between June 30, 2014 and June 30, 2016.

More information may be obtained from United Finance plc, United House, 66 Gzira Road, Gzira.