Smartcare Finance p.l.c. has announced the issuance of up to €11,000,000 5.75% 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 jointly and severally by Smartcare Holdings Limited.
Find out more details in the Prospectus below.
Business overview
Smartcare Finance p.l.c. was incorporated in January 2019 as the financing and investment vehicle of the Smartcare Group, founded by Andrew Debattista Segond, whose entrepreneurial track record spans construction, healthcare for the elderly, hospitality and real estate development in Malta and Sicily. The Group’s operations are anchored by the business of healthcare for the elderly, complemented by hospitality and real estate development activities.
The Bond Issue forms part of the Group’s strategy to part-finance its property development pipeline in Sicily, support its hospitality operations, and fund the continued growth of a diversified portfolio of income-generating assets.
Overview of holdings
Dar Pinto Care Home
The Group, through Smartcare Pinto Ltd, owns and operates Dar Pinto, a long-term care home for the elderly in Qormi, run in partnership with the Government of Malta’s Active Ageing and Community Care Department, which is presently the Care Home’s only customer under a service agreement running till 2029. The Care Home has 179 beds and has maintained full occupancy since April 2020. A second extension is under way and is expected to bring total capacity to 213 beds by Q2 2027.
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.
Segond Boutique Hotel
Through Segond Boutique Hotels Limited, the group owns and operates a 51-room boutique hotel in Xagħra, Gozo, which opened in January 2022. The hotel has been leased to a third-party operator since February 2025 under a 15-year lease agreement, with the operator holding an option to purchase the property upon expiry.
Bella Sicilia Srl
The Group’s Sicilian real estate arm, Bella Sicilia Srl, develops high-end villas and premium apartments in south-east Sicily. Its active pipeline includes the Laguna Residences project, a gated residential community of 67 units centred around a private lagoon, together with a beach club and leisure facilities, alongside further developments including Borgo Zesira, Manneggio del Cavalliere and Del Borgo Albaccara.
Use of proceeds
The net proceeds from the Bond Issue, valued at approximately €10,600,000, are expected to be applied as follows:
- Approximately €1.04 million to Bella Sicilia Srl to part-finance acquisition costs relating to the Laguna Project, an adjacent agricultural farm, and associated transaction and settlement costs;
- Approximately €5.51 million to Bella Sicilia Srl to part-finance construction and development costs of the Laguna Project;
- Approximately €0.75 million to Segond Boutique Hotels Limited for the partial repayment of an existing bank facility; and
- The remaining balance of approximately €3.3 million for the general corporate funding purposes of the Group.
Bond highlights
| Term | Detail |
| Issuer | Smartcare Finance p.l.c. |
| Guarantor | Smartcare Holdings Limited |
| Amount | Up to €11,000,000 |
| Coupon | 5.75% |
| Maturity | 21 October 2036 |
| Status | Secured, guaranteed jointly and severally by the Guarantor |
| Issue Price | At par |
| Listing | Malta Stock Exchange |
The minimum subscription amount is €1,000, with additional subscriptions accepted in multiples of €100.
Security package
The Bonds are secured by hypothecs over Group property and pledges over insurance proceeds, held by a Security Trustee for the benefit of Bondholders. Key highlights of the security package include:
- A first-ranking special hypothec over a property owned by Segond Boutique Hotels Limited, up to €6,500,000;
- A first-ranking special hypothec over a property owned by Bella Sicilia Srl, up to €5,167,000;
- Pledges over the proceeds of two insurance policies; and
- A joint and several guarantee from Smartcare Holdings Limited, covering both interest and principal.
The security package is intended to provide bondholders with additional protection through security granted over key Group assets, together with the Guarantor’s joint and several guarantee.
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.
5.75% Smartcare Finance p.l.c. 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. 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.
