International Hotel Investments p.l.c. (IHI) has announced the issuance of €30 million 5.45% Unsecured Bonds maturing in 2034, with each bond having a nominal value of €100 and redeemable at par upon maturity.
The bonds will carry a fixed interest rate of 5.45% per annum, payable annually on 2 December each year (first payment on 2 December 2027), and will mature on 2 December 2034, an 8-year tenor from commencement. The bonds will be listed on the Malta Stock Exchange, with admission to the Official List expected on 10 December 2026 and trading expected to commence on 11 December 2026.
This Bond Issue is being made available to holders of the maturing 4% IHI Bonds 2026 (ISIN: MT0000111311) as a rollover opportunity and is not, at this stage, open to the general public.
Find out more details in the documents below.
Business overview
International Hotel Investments p.l.c. (IHI) is a public limited liability company registered in Malta, operating as the holding and parent company of the Corinthia Group. The Group is focused on the ownership, development and operation of luxury hotels and residential and commercial real estate across multiple international markets.
The Corinthia Group is synonymous with five-star luxury hospitality, with properties located in key European and international destinations. The Group’s revenue is primarily derived from owned hotel operations, hotel management fees, real estate rental income, and catering and ancillary services businesses.
In 2025, the Group reported an operating profit of approximately €50 million and cash flows of €81.5 million from operating activities, reflecting continued growth. IHI’s shares are listed on the Malta Stock Exchange.
Use of proceeds
The net proceeds from the Bond Issue will be used by the Issuer for the redemption and cancellation of up to €30,000,000 of the maturing 4% IHI Bonds 2026 (ISIN: MT0000111311), which are due for redemption on 20 December 2026 (€60,000,000 currently outstanding). Any remaining amounts required for the redemption of the maturing bonds will be financed from the Group’s general cash flow and/or banking facilities.
Bond highlights
| Term | Detail |
| Issuer | International Hotel Investments p.l.c. |
| ISIN | MT0000111386 |
| Amount | €30,000,000 |
| Coupon | 5.45% per annum |
| Coupon Frequency | Annually (2 December each year) |
| Maturity Date | 2 December 2034 |
| Status | Unsecured |
| Denomination | €100 per bond |
| Listing | Malta Stock Exchange |
The minimum application amount is €2,000, with additional subscriptions accepted in multiples of €100 thereafter.
Bondholders whose current holding is below €2,000 will be required to fund their account with the additional amount necessary to meet the minimum application requirement.
Bondholders holding more than €2,000 may elect to reinvest only part of their existing holding, provided that the amount subscribed for is at least €2,000.
Bondholders may also subscribe, in the same application, for additional bonds in excess of their maturing holding (payable in cash). Additional bonds will only be allocated if bonds remain after applications to exchange maturing bonds (including any cash top-up) have been satisfied. If those applications reach €30,000,000, no additional bonds will be allocated, and if they exceed it, they will be scaled down without priority or preference.
How to apply
This offer is available to holders of the maturing 4% IHI Bonds 2026 (ISIN: MT0000111311) as at the Cut-Off Date of 22 October 2026. The offer period opens on 2 November 2026 and is scheduled to close on 20 November 2026, unless the Issuer decides to close it earlier or extend it. Application Forms are expected to be mailed to holders of the maturing bonds on 26 October 2026.
If any bonds remain available once applications from holders of the maturing bonds have been allocated, they will be offered to Authorised Financial Intermediaries through an Intermediaries’ Offer on 25 November 2026. The basis of acceptance is expected to be announced on 2 December 2026, with allotment letters dispatched on 10 December 2026, admission to the Official List expected on 10 December 2026 and trading expected to commence on 11 December 2026.
Bondholders who hold their bonds through a Calamatta Cuschieri Moneybase nominee account may submit their application using any of the channels listed below.
Online
Send an email, message us via in-app live chat or reach out to us via our website.
By phone
Call us on +356 25 688 688. Our ISO-certified Customer Care team is available 7 days a week.
In person / Advisory
Visit any of our branches in Mosta, Sliema, Birkirkara, or Fgura. Our advisors are available throughout the application period to assist you.
If your bonds are held directly on the Malta Stock Exchange (MSE), you will receive a pre-printed Application Form by post from the Issuer. To participate in the offer, the original signed Application Form must be submitted in person at any of our branches in Mosta, Sliema, Birkirkara, or Fgura.
Calamatta Cuschieri Investment Services Limited is a member of the Maltese Investor Compensation Scheme. Instruments entrusted with us are covered under the Scheme in line with the Investor Compensation Scheme Regulations (S.L. 370.09).
The information contained in this article is provided strictly for information purposes and does not constitute, nor should it be interpreted as, an offer, invitation, recommendation or solicitation to buy, sell or subscribe to any financial instrument or investment product. The information presented may be amended without prior notice and does not constitute investment advice, investment research or a guarantee of future returns or performance.
Prospective investors are encouraged to read the applicable offering documentation in full before making any investment decision. Investors should be aware that investments in financial instruments involve risks, including the possible loss of part or all of the capital invested, particularly in the event of default, insolvency and/or bankruptcy of the issuer.
The financial instruments referred to herein are intended for retail clients; however, they may not be suitable or appropriate for all investors. Investors should make their own independent assessment and seek independent professional advice regarding the suitability and appropriateness of any investment, taking into account their individual investment objectives, financial situation and risk tolerance.
The value of investments and any income derived therefrom may fluctuate and can go down as well as up. Past performance is not a reliable indicator or guarantee of future performance. Where investments are denominated in a currency other than the investor’s base or reporting currency, changes in foreign exchange rates may adversely affect the value and/or returns of the investment.
Calamatta Cuschieri Investment Services Ltd, company registration number C13729, is licensed by the Malta Financial Services Authority to conduct investment services business under the Investments Services Act, Cap 370. The company is a subsidiary of Calamatta Cuschieri Moneybase plc and is registered at Level 0, Ewropa Business Centre, Dun Karm Street, Birkirkara BKR 9034, Malta.
