Dizz Finance plc - Details of New Bond Issue

On 20 September 2016, Dizz Finance plc published a Prospectus in connection with the issuance of €8.0 million 5.0% unsecured bonds maturing in 2026. This bond is being guaranteed by Dizz Group of Companies Limited – the ultimate parent and holding company of the Dizz Group. The proceeds from the bonds are earmarked for the continued expansion of the Dizz Group, for the refinancing of certain bank borrowings, and for the general corporate funding of the Group.

The salient details of the new bond issue are as follows:



Amount Offered:

€8.0 million

Issue Price:

100% (par)

Interest Payment Date:

Annually on 7 October (first interest payment date is 7 October 2017)


The bonds will mature at 100% (par) on 7 October 2026.


The bonds constitute the general, direct, unconditional and unsecured obligations of the Issuer, guaranteed by the Guarantor, and shall at all times rank pari passu, without any priority or preference among themselves and with other unsecured debt of each of the Issuer and the Guarantor, if any.

The obligation of the Guarantor constitutes a general, direct and unsecured obligation of Dizz Group of Companies Limited and ranks equally with all its other existing and future unsecured obligations, except for any debts preferred by law.

Use of Proceeds:

The net proceeds from the bonds, estimated at circa €7.7 million after issuance costs, will be on-lent by the Issuer to other sister companies within the Dizz Group for the the following purposes:

(i)   €2.9 million for the settlement of the outstanding amounts in relation to the acquisition of the Guess, 7 Camicie and Brooks Brothers brands by the Group; for the refurbishment and roll-out of the Max & Co and Elisabetta Franchi outlets and the Terranova megastore in Iklin; and for the acquisition of three other high-end retail franchises and related inventories and equipment;

(ii)   €2.3 million for the refinancing of certain bank borrowings;

(iii)   €1.2 million for part-funding the construction and development of the “Hub”; and

(iv)   €1.3 million for general corporate funding purposes.

In the event that the Issuer does not receive subscriptions for the full €8.0 million on offer, it will proceed with the listing of the bonds subscribed for, provided that it collects at least €2.9 million which are intended for the acquisition of the new fashion retail brands and for the refurbishment and roll-out of the prospective new outlets as described above. Thus, should the total amount of applications received by Dizz Finance plc be less than €3.4 million, the Issuer reserves the right not to proceed with the bond issue and all applicants will be refunded accordingly at zero interest.

Private Placement Date:

Monday 26 September 2016

General Public Offer Period:

Monday 28 September 2016 to 30 September 2016

The offer period may close early due to over-subscription.

Minimum Application:

Applications must be for a minimum of €3,000 and in multiples of €1,000 thereafter.

Interested applicants are kindly requested to contact us for further information on the application procedure.


Official List of the Malta Stock Exchange


The value of investments may increase as well as decrease and past performance is not an indication of future performance. Prospective investors are urged to read the Prospectus issued by Dizz Finance plc dated 16 September 2016 including the Risk Factors which are found in the Registration Document on pages 30 to 41 and in Section 2 of the Securities Note found on pages 87 to 89. Prospective investors are urged to consult an independent financial adviser for advice prior to investing in the Bonds.


Dizz Finance plc – Prospectus dated 16 September 2016

This webpage has been prepared based on the Prospectus dated 16 September 2016 issued by Dizz Finance plc and no representations or guarantees are made by Rizzo, Farrugia & Co. (Stockbrokers) Ltd with regard to the accuracy of the data. This webpage is for information purposes only. It is not intended to be and should not be construed as an offer or solicitation to acquire or dispose of any of the securities or issues mentioned herein. Rizzo, Farrugia & Co. (Stockbrokers) Ltd accepts no responsibility or liability whatsoever for any expense, loss or damages arising out of, or in any way connected with, the use of all or any part of this webpage.