Central Business Centres p.l.c. has announced the issuance of €16,750,000 bonds carrying a coupon of 5.9% and a term of 10 years until 2036. Each bond has a nominal value of €100 and is redeemable at par upon maturity. The Issuer may elect to redeem the bonds early, in whole or in part, on any date between 8 October 2031 and 7 October 2036.
Find out more details on the official bond documents below.
Business overview
Central Business Centres p.l.c. is a Malta-based finance, investment and property holding company, established on 20 June 2014. The Company’s principal activity is the acquisition, development and leasing of commercial property in Malta, focused on office, retail and mixed-use space, held for investment purposes and generating returns through rental agreements.
As of 31 December 2025, the Company’s property portfolio consisted of business centres in Żebbuġ, Gudja, St. Julian’s (including Villa Fieres) and Mrieħel, a mixed-use centre in Valletta known as The Savoy, and a commercial property in Qormi (the FXB Building) acquired in December 2025, with total assets of approximately €86.3 million, the large majority of which is investment property. CBC Żebbuġ, CBC Gudja and CBC Qormi are fully let, CBC St. Julian’s is largely let, CBC Mrieħel remains in the early stages of commercialisation, and the upper floors of CBC Valletta are undergoing refurbishment ahead of a planned completion in Q1 2027.
The Company’s properties are leased to third-party tenants on medium to long-term contracts with periodic contractual rental increments. The Company has no direct employees and subcontracts for administrative, maintenance and other operational services.
Financial Highlights
Central Business Centres p.l.c. reported total assets of approximately €86.3 million as of 31 December 2025, supported by total equity of approximately €28.3 million. The Company generated revenue of approximately €2.58 million during the year, an increase of 8.9% on FY2024, and reported operating profit (EBIT) of approximately €2.11 million and profit after tax of approximately €966,000.
Management forecasts revenue to grow to approximately €3.26 million in FY2026 (+26.2%) and €4.51 million in FY2027, supported by the first full-year contribution from the Qormi property and the completion of the Valletta redevelopment, with total liabilities of approximately €58.0 million as at 31 December 2025.
Use of proceeds
The net proceeds from the bond issue will be utilised for:
- Repayment of up to €6,000,000 of the 2017 existing bonds
- The acquisition of an additional Żebbuġ property from the Cortis Group, satisfied in part by €3,000,000 nominal amount of bonds issued as non-cash consideration, plus approximately €600,000 in cash transaction costs
- Settlement of approximately €1,500,000 outstanding on the CBC Mrieħel acquisition
- Capital expenditure of approximately €1,250,000 for upgrades at CBC Mrieħel and CBC Valletta The Savoy
- General corporate funding purposes of the Company (approximately €2,350,000)
Existing bond exchange for eligible existing bondholders
Holders of the Company’s 2017 existing bonds (€6,000,000 currently in issue) appearing on the register as at the Cut-Off date may apply to transfer some or all of their existing holding towards the new bonds, in priority to other applicants, subject to a minimum application of €1,000 and in multiples of €100 thereafter.
Where a holding is below €1,000, a cash Top-Up will be required. Eligible existing bondholders wishing to subscribe for an amount in excess of their existing holding may apply for the additional amount.
Bond highlights
| Term | Detail |
| Issuer | Central Business Centres p.l.c. |
| Amount | €16,750,000 (Series 1, Tranche 2) |
| Coupon | 5.9% |
| Term | Bonds due 2036 (callable from 8 October 2031) |
| Status | Unsecured |
| Issue Price | At par |
| Listing | Malta Stock Exchange |
For new applicants, the minimum subscription is €2,000, with additional subscriptions in multiples of €100. Eligible existing bondholders participating in the exchange offer can subscribe from €1,000, with additional subscriptions in multiples of €100.
How to apply
If you are considering participating in this 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 fees or charges for clients when applying for or subscribing to these Bonds.
Customers may apply by contacting their financial advisor or by visiting any of our branches located in Birkirkara, Mosta, Sliema and Fgura. The bond is available on an advisory basis only. To set up an appointment, call +356 25 688 688.
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 Care team is available 7 days a week. Clients can get in touch via in-app live chat or by calling on +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.
