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CBC Business Centres Plc 4.4% Unsecured Bonds 2027 (Series 1 Tranche 1)

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Central Business Centres plc has announced the issue of €6,000,000 (Series 1 Tranche 1) of 4.4% Unsecured Bonds redeemable in 2027, with a nominal value of €100 issued at par. The issue described herein is part of the €10,000,000 Unsecured Bond Issuance Program of Central Business Centres plc.

Business Overview

CBC plc was established as a property development company operating principally within the real-estate and property market, to carry out the business of a finance, investment, property development and property-owning company. The Properties held by the Issuer shall be constructed, developed and/or finished, as the case may be, for rental to third parties.

The property market in Malta has been gaining pace in recent years in the form of higher demand for high quality office space and residences. The increase has been the result of several international as well as local companies seeking to improve the working place for their employees, in part to improve employee retention and well-being.

The Project is geared towards the development of small to medium sized office space, which, in the opinion of the Directors represents a vacuum in the real-estate local market which has seen the construction and development of larger scale commercial property projects.

Use of Proceeds

The Issuer’s intentions are to use the proceeds from the offer of Bonds issued in Series 1, Tranche 1, as follows:

a) a maximum of €5,700,000 of the bond proceeds will be used as a cash payment due on the acquisition of the Zebbug site from S.M.W Cortis Limited.

b) a maximum of €300,000 shall be used for general corporate funding purposes.

Company Overview

CBC Plc Issuer was established on the 20 June 2014 to carry out the business of a finance, investment, property development and property-owning company. The Issuer is empowered to, inter alia, purchase, take on lease, exchange, or acquire movable or immovable property by any title.

How to register to buy bonds?

More information is available from the prospectus dated 29th May 2017, which is available for download from the links below.

Orders may be placed by contacting us on 25 688 688 or via email on info@cc.com.mt.

Preferred Applicants offer period will open on 22nd June at 9am, and will close on 28th June at 12pm. Applications must be for a minimum value of €1,000.

Placement Arrangement (General Offer) period will be from 30th June at 9am until 6th July at 12pm. In case of over subscription, the issuer reserves the right to close the Placement Arrangement prior to the 6th July 2017.

A copy of the prospectus is available HERE. For the final terms please click here.

Calamatta Cuschieri Investment Services Ltd is acting as Sponsor, Manager and Registrar for this bond issue.