On 29 September 2021, Central Business Centres plc published a Prospectus in relation to a new €21 million bond issue maturing in 2033 with the possibility of early redemption as from 2027. The salient features of the new bonds are as follows:
Interest Payment Date:
Annually on 10 November (with the first interest payment date being 10 November 2022)
10 November 2033
Early Redemption Dates:
10 November 2027/2028/2029/2030/2031/2032 (subject to the Issuer giving not less than 60 business days’ notice)
Use of Proceeds:
The net proceeds from the bond issue, estimated at €20.7 million after issuance costs, will be used for the following purposes, in the amounts and order of priority set out below:
- €17.5 million for the purchase of the property known as the ‘Savoy Shopping Complex’ located in Valletta.
- €3 million for the repayment of the 5.75% unsecured bonds maturing on 30 December 2021.
- €0.2 million for general corporate funding purposes.
Status & Ranking:
The bonds will constitute the general, direct, unsecured, and unconditional obligations of the Issuer and will, at all times, rank pari passu, without any priority or preference among themselves. Furthermore, subject to the negative pledge clause, third party security interests may be registered which will rank in priority to the Bonds against the assets of the Issuer for so long as such security interests remain in effect.
Plan of Distribution:
The full amount of the bond issue is reserved for subscriptions by Authorised Financial Intermediaries.
6 October 2021 to 27 October 2021, both days included
Minimum Subscription Amount:
€2,000 (nominal) and in multiples of €100 thereafter.
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 Central Business Centres plc dated 24 September 2021 including the ‘Risk Factors’ which are found in Section 2 of the Registration Document on pages 7 to 9, and in Section 2 of the Securities Note on pages 5 to 6. Prospective investors are urged to consult an independent financial advisor for advice prior to investing in the bonds.
This webpage has been prepared based on the Prospectus dated 24 September 2021 issued by Central Business Centres plc and no representations or guarantees are made by Rizzo, Farrugia & Co. (Stockbrokers) Ltd with respect 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.