Ciantar Finance p.l.c. announces €16.5 million 5.6% Secured Bonds maturing in 2036

Ciantar Finance p.l.c. has announced the issuance of up to €16,500,000 5.6% Secured Bonds redeemable in 2036, with each Bond having a nominal value of €100 and being redeemable at par upon maturity. The Bonds are guaranteed by Ciantar Holdings Ltd and secured by a first-ranking special hypothec over three Group properties together with a Reserve Account, held by a Security Trustee for the benefit of Bondholders. 

The Intermediaries’ Offer runs from 29 October 2026 to 20 November 2026 and may be shortened or extended by the Issuer. Find out more details on the Base Prospectus and Final Terms below. 

Business overview 

Ciantar Finance p.l.c. was incorporated in May 2025 as the finance company of the Ciantar Group, which is ultimately owned by Darren Ciantar through the Group’s holding company, Ciantar Holdings Ltd. The Group operates exclusively in Malta across property development, construction, finishing works and long-term property investment, acquiring and developing residential and commercial property either for resale or to retain as long-term investments. 

This Bond Issue forms part of the Group’s strategy to refinance its 6.75% Secured Callable Notes 2027 and existing bank facilities, fund the development of the Gżira Hotel, and support the continued growth of its development pipeline and long-term investment portfolio. 

Overview of holdings

Gżira Hotel 

Acquired by Ciantar Developments Ltd in November 2023, the Gżira Site is being developed into the Gżira Hotel, a four-star apart-hotel of 83 rooms across ten floors. The project is expected to be substantially completed by the end of 2027, with final completion expected by Q2 2028, and is estimated to be valued at €20.0 million upon completion. The Gżira Site forms part of the Secured Property. 

Marsa Property

Located at the former Edible Oil Factory in Marsa, Marsa Site 1 and Marsa Site 2 were acquired by Ciantar C&F Ltd in 2022 and 2025 respectively, and are permitted for commercial parking, retail stores, offices and workshops. The Group intends to retain both sites as long-term investments and does not plan to develop them during the term of the Bonds. Both sites form part of the Secured Property. 

Resedential Developments 

The Group has delivered Levante Mansions in Santa Venera, Emerald Mansions in Żabbar, a residential project in Tarxien and Casa Verde in Qawra, with combined expected gross revenue of circa €35.9 million. Ongoing developments include residential projects in Għargħur and Dingli, expected to be completed by 2026 and 2027 respectively, and the Birkirkara project, expected to be completed by 2028. 

Use of proceeds 

The net proceeds from this Bond Issue, estimated at approximately €16,000,000, will be on-lent to the Guarantor and are expected to be applied as follows: 

• €4.0 million to repay the Issuer’s 6.75% Secured Callable Notes 2027; 

• Approximately €3.8 million to refinance the MeDirect Bank (Malta) p.l.c. facility used to finance the acquisition and development of the Gżira Site;

• Approximately €1.55 million to reimburse the Group for expenses incurred in the acquisition of the Gżira Site;

• Approximately €2.15 million to refinance the Bank of Valletta p.l.c. facility used for the acquisition of Marsa Site 1 and Marsa Site 2;

• Approximately €2.8 million for the development of the Gżira Site into the Gżira Hotel; and

• Approximately €1.7 million for the general corporate funding purposes of the Group.

Bond highlights 

Term	Detail
Issuer	Ciantar Finance p.l.c.
Guarantor	Ciantar Holdings Ltd
Security Trustee	CSB Trustees & Fiduciaries Limited
Amount	Up to €16,500,000
Coupon	5.6%, payable annually on 1 December, with the first payment on 1 December 2027
Maturity	1 December 2036
Status	Secured by a first-ranking special hypothec over three Group properties and a Reserve Account, and guaranteed by Ciantar Holdings Ltd
Denomination	€100 per bond
Issue Price	At par
Listing	Malta Stock Exchange (ISIN MT0003081206)

The minimum subscription amount is €5,000, with additional subscriptions accepted in multiples of €100. Existing Noteholders applying by way of an Existing Note Transfer are subject to a minimum application of €1,000.

Security package 

The Bonds are secured by a first-ranking special hypothec over Group property and a Reserve Account, held by a Security Trustee for the benefit of Bondholders, and are guaranteed by Ciantar Holdings Ltd. Key highlights of the security package include: 

• A first-ranking special hypothec granted by the relevant Group companies over three properties: Marsa Site 1, Marsa Site 2 and the Gżira Site; 

• Secured properties with an aggregate current market value of circa €17,200,000, based on the valuation reports dated 15 June 2026; 

• A joint and several guarantee from Ciantar Holdings Ltd, the Group’s holding company; and 

• A Reserve Account held by the Security Trustee, into which the development funds are placed to cover the interim shortfall against the 125% collateral coverage level, and which are released only against certification of works carried out on the Secured Property. 

The security package is intended to provide Bondholders with additional protection through security granted over key Group assets, together with a guarantee from the Group’s holding company and a Reserve Account held by the Security Trustee. 

How to apply 

If you are considering participating in the Bond Issue, we recommend funding your account via bank transfer using your dedicated IBAN. Your IBAN details are available on the Moneybase platform, as well as on your portfolio and statement reports. Alternatively, you can add funds to your account instantly by card through the Moneybase app.

There are no application fees associated with subscribing to this Bond Issue.

Customers may apply through the following channels:

Online

Applications can be submitted through the Moneybase platform, available on iOS, Android and web. To apply, search for the bond within the platform and complete your application in a few steps. 

5.6% Ciantar Finance Secured Bonds 2036

Advisory

Clients seeking investment advice or personalised assistance may contact their financial advisor or visit any of our branches located in Birkirkara, Mosta, Sliema and Fgura. 

Our advisory teams will be available throughout the application period to guide clients through the subscription process and answer any queries they may have. 

Our ISO-certified Customer Support team is available 7 days a week. Get in touch via in-app live chat or by calling +356 25 688 688.   

Calamatta Cuschieri Investment Services Limited is a member of the Maltese Investor Compensation Scheme. Instruments entrusted with us are covered under the Scheme in line with the Investor Compensation Scheme Regulations (S.L. 370.09). 

The information contained in this article is provided strictly for information purposes and does not constitute, nor should it be interpreted as, an offer, invitation, recommendation or solicitation to buy, sell or subscribe to any financial instrument or investment product. The information presented may be amended without prior notice and does not constitute investment advice, investment research or a guarantee of future returns or performance. 

Prospective investors are encouraged to read the applicable offering documentation in full before making any investment decision.  Investors should be aware that investments in financial instruments involve risks, including the possible loss of part or all of the capital invested, particularly in the event of default, insolvency and/or bankruptcy of the issuer.  

The financial instruments referred to herein are intended for retail clients; however, they may not be suitable or appropriate for all investors. Investors should make their own independent assessment and seek independent professional advice regarding the suitability and appropriateness of any investment, taking into account their individual investment objectives, financial situation and risk tolerance.  

The value of investments and any income derived therefrom may fluctuate and can go down as well as up. Past performance is not a reliable indicator or guarantee of future performance. Where investments are denominated in a currency other than the investor’s base or reporting currency, changes in foreign exchange rates may adversely affect the value and/or returns of the investment.  

Calamatta Cuschieri Investment Services Ltd, company registration number C13729, is licensed by the Malta Financial Services Authority to conduct investment services business under the Investments Services Act, Cap 370. The company is a subsidiary of Calamatta Cuschieri Moneybase plc and is registered at Level 0, Ewropa Business Centre, Dun Karm Street, Birkirkara BKR 9034, Malta.