MM Star Malta Finance plc - Details of New Bond Issue
On 30 May 2025, MM Star Malta Finance plc published a Prospectus following regulatory approval for the admissibility to listing on the Official List of the Malta Stock Exchange of €35 million 5.35% secured bonds maturing in 2031, the possibility of early redemption as from 2029. MM Star Malta Finance is the finance vehicle of MM Star Holdco Limited, which through other subsidiaries, owns and operates the YOTEL hotel in Edinburgh. MM Star Group forms part of Millemont Capital Partners Limited. The salient details of the new bond issue are as follows:
Coupon:
5.35%
Amount Offered:
€35 million (nominal)
Issue Price:
100% (par)
Redemption Date:
27 June 2031, with an early redemption option as from 27 June 2029 (subject to a 30 days’ notice)
Interest Payment Date:
Annually on 27 June (first interest payment date is 27 June 2026)
Ranking of the Bonds:
The bonds constitute the general, direct, unconditional, and secured obligations of the Issuer, guaranteed by the Guarantor, and will, at all times, rank pari passu, without any priority or preference among themselves. The bonds are secured by the collateral documents having first ranking fixed security governed by Scots law which will be created over the leasehold title held by Erskine PropCo in respect of the Yotel Edinburgh and a first ranking equitable security which will be created over the assets of MM Star HoldCo.
Use of Proceeds:
The proceeds from the bonds, which net of expenses are expected to amount to €34.2 million, will be on-lent to the Guarantor to refinance borrowings related to the acquisition of the Yotel Edinburgh.
Plan of Distribution:
The entire amount of €35 million has been reserved for subscriptions by Authorised Financial Intermediaries through Placement Agreements.
Minimum Subscription Amount:
€2,000 (nominal) and in multiples of €100 thereafter
Listing:
Official List of the Malta Stock Exchange
Expected Listing Date:
4 July 2025
Downloads:
Disclaimer:
This webpage has been prepared based on the Prospectus dated 27 May 2025 issued by MM Star Malta Finance 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.
Investors wishing to acquire the Bonds should read the Prospectus before making any investment decision in order to fully understand the potential risks and rewards associated with an investment in the Bonds. A copy of the Prospectus is available on Rizzo, Farrugia & Co. (Stockbrokers) Limited’s website. Prospective investors are urged to consult their financial advisers as to the suitability or otherwise of acquiring such Bonds. The value of the investment and the income therefrom may go down as well as up and investors may lose some or all of the money invested.
This ADVERTISEMENT has been issued by Rizzo, Farrugia & Co. (Stockbrokers) Limited 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.