“MARFIN INVESTMENT GROUP HOLDINGS S.A.” (the “Company”) announces that its Board of Directors, following the decisions of the General Meeting of Shareholders of 15 June 2011 and 24 October 2011, has decided the issuance of a Convertible Bond Loan (“CBL”) of up to €660,281,301 in two tranches with the following terms:

Tranche A of the CBL will amount to up to €408,625,335 through the issuance of 408,625,335 common bonds of nominal value €1.00 each, maturity of 6 years, annual coupon of 7% and Conversion Price of €0.54 per share.

Tranche B of the CBL will amount to up to €251,655,966 through the issuance of 251,655,966 common bonds of nominal value €1.00 each, maturity of 7 years, annual coupon of 6.3% and Conversion Price of €0.99 per share.

Current shareholders will have pre-emption rights on both tranches of the CBL, as per current legislation, in the ratio of 6 bonds in total for 7 shares. 

The holders of the existing convertible bonds of the Company, issued on 19 March 2010, will be offered Presubscription Rights in Tranche B to exchange the full amount of bonds they already own with new bonds of the Company. The allocation of new bonds to existing bondholders who exercise their presubscription rights will materialize only if there are any undistributed bonds following exercise of the pre-emption rights of existing shareholders.

The bonds of both tranches will not be listed for trading on the ATHEX.

The detailed terms of the CBL will be outlined in the Information Memorandum of the issues following its approval from the Capital Markets Commission.

The proceeds from the issue will be used for the capital restructuring of MIG's portfolio companies as well as addressing investment opportunities arising from the ongoing economic crisis in the country.

Commenting on the above decisions of the Board of Directors, MIG's Chairman Mr. Andreas Vgenopoulos made the following statement: “MIG's management decided on the further capital strengthening of the group in order to take advantage of the emerging investment opportunities as a result of the ongoing economic crisis. These opportunities, in combination with the existing portfolio companies of the group, are expected to generate significant value appreciation for both the company's shareholders as well as its convertible bond holders”.