Endo Group is attempting to obtain investment through a new €7 million unsecured callable notes issue, carrying a 7.5 per cent coupon rate.
The announcement was made by the group’s financing arm Endo Finance plc on Tuesday.
The notes, which are due in 2027, have a nominal value of €1,000 per note. The application is awaiting approval from the Malta Financial Services Authority (MFSA). Further details about the issue will be provided through a prospectus, the company confirmed.
Once regulatory approval is granted, the notes shall be issued with the guarantee of Endo Ventures Ltd, and will thus be supported through the granting of collateral in favour of an independent custodian. This will be done “for the benefit and in the interest of noteholders” for the fulfilment of the company’s obligations according to the prospectus, Endo Finance stated.
The company confirmed that the notes will not be listed or traded on the Malta Stock Exchange or any other regulated market.
More information about the proposed issue, including details about subscription, shall be provided through a company announcement once the application to the MFSA “progresses further”, Endo Finance said.
Headquartered in Malta, Endo Group consists of Endo Ventures Ltd as the parent company, along with Endo Finance plc, International Fender Providers Ltd, Endo Properties Ltd, and Endo Tankers Ltd as its subsidiaries. Through its portfolio of companies, the group acquires, finances, manages, and charters commercial vessels, as well as provides ship-to-ship and mooring master services.
Earlier this year, Endo Group completed the acquisition of two vessels, Endo Ponente and Endo Gregale, following the sale of Endo Breeze back in December.
