CPHCL Finance plc – Basis of acceptance

Matthew Fabri

December 16, 2025

16 December, 2025
3 min read
16 December, 2025
3 min read

Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.

On 15 December 2025, CPHCL Finance plc announced the basis of acceptance in relation to the offer of €45 million 5.35% unsecured bonds due in 2035 in terms of the prospectus dated 12 November 2025.

The company explained that applications from existing bondholders of 4.25% unsecured bonds maturing in 2026 amounted to €37.4 million, which were all allocated in full. Bonds transferred to the company for the exchange of new bonds amounted to €27.3 million representing 68.2% of the nominal value of the outstanding bonds maturing in 2026. Meanwhile, the remaining €10.1 million represented amounts applied for in excess of previous holdings

CPHCL explained that the remaining €7.6 million were allocated to authorised financial intermediaries participating in the Intermediaries’ Offer.

The new bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on Monday 22 December 2025 and trading is expected to commence on Tuesday 23 December 2025. Moreover, interest on the new bonds will start accruing from Thursday 18 December 2025.

The company also announced that trading in the 4.25% unsecured bonds maturing in 2026, will resume as from Tuesday 23 December 2025. Additionally, the remaining bonds will be redeemed by the company, along with prevailing interest on 12 April 2026.

Furthermore, holders of the bonds maturing in 2026 who elected to surrender their holdings in the bond will receive within 30 calendar days from the bonds’ listing, the 4.25% interest rate applicable from and including 12 April 2025 up to and including 17 December 2025.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

On 15 December 2025, CPHCL Finance plc announced the basis of acceptance in relation to the offer of €45 million 5.35% unsecured bonds due in 2035 in terms of the prospectus dated 12 November 2025.

The company explained that applications from existing bondholders of 4.25% unsecured bonds maturing in 2026 amounted to €37.4 million, which were all allocated in full. Bonds transferred to the company for the exchange of new bonds amounted to €27.3 million representing 68.2% of the nominal value of the outstanding bonds maturing in 2026. Meanwhile, the remaining €10.1 million represented amounts applied for in excess of previous holdings

CPHCL explained that the remaining €7.6 million were allocated to authorised financial intermediaries participating in the Intermediaries’ Offer.

The new bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on Monday 22 December 2025 and trading is expected to commence on Tuesday 23 December 2025. Moreover, interest on the new bonds will start accruing from Thursday 18 December 2025.

The company also announced that trading in the 4.25% unsecured bonds maturing in 2026, will resume as from Tuesday 23 December 2025. Additionally, the remaining bonds will be redeemed by the company, along with prevailing interest on 12 April 2026.

Furthermore, holders of the bonds maturing in 2026 who elected to surrender their holdings in the bond will receive within 30 calendar days from the bonds’ listing, the 4.25% interest rate applicable from and including 12 April 2025 up to and including 17 December 2025.