MeDirect Bank (Malta) plc is now accepting applications for the new €45,000,000 5.35% Unsecured Bonds 2035 issued by CPHCL Finance p.l.c. (the finance company for the Corinthia Group) which has received approval from the Listing Authority.
About CPHCL Finance p.l.c.
CPHCL Finance p.l.c., a company listed on the Malta Stock Exchange, serves as the financing arm of the Corinthia Group and is a fully owned subsidiary of CPHCL Company Limited. Since its incorporation in 1999, CPHCL Finance p.l.c. has raised approximately €140 million through bond issues listed on the local exchange.
The principal activity of CPHCL Company Limited is to invest in the ownership, development and operation of mixed-use real estate developments that consist principally of hotels, residences, offices, retail areas, industrial and event catering, as well as joint ventures in Malta and in various countries overseas.
The main investments of CPHCL are:
- 57.82% of IHI (International Hotel Investments) p.l.c., owner of the Corinthia brand and the largest subsidiary of the Group. Revenue and earnings are derived primarily from the operation of owned hotels in Hungary, Portugal, Czech Republic, Russia, UK, Belgium, Libya and Malta
- CPHCL owns 50% of MIH (Mediterranean Investments Holding) p.l.c. The principal activity of MIH is to acquire, develop and operate real estate projects in Libya. MIH owns:
- 100% of Palm City Limited, which owns the Palm City Residences in Janzour, Libya. Palm City is currently the only operating asset.
- 99.9% of Palm Waterfront Limited which is primarily engaged in the development and operation of the Palm Waterfront site located adjacent to Palm City Residences.
- 25% of Medina Tower Joint Stock Company which owns a parcel of land situated in downtown Tripoli. The company intends to develop the site including a mix of upscale residential units and retail, commercial and conference space.
- Other foreign investments of CPHCL include:
- Investment properties in the Czech Republic and Turkey
- Verdi Budapest Hotel, a four-star hotel on the Danube in Budapest
- Verdi Tunis Beach Resort, a four-star hotel in Tunis
- 41.48% of the Santarem Hotel, a four-star property in Portugal
- Other local direct investments of CPHCL include:
- 65% of Danish Bakery Limited, a business set up to produce bread and confectionery products. It operates under the Jesper’s trade name
- Swan Laundry and Dry Cleaning Company Limited. This company was set up to offer laundry and drycleaning services as the name implies.
- Quality Talent Limited. A company specialising in staffing and recruitment.
- 25% of MFCC, Malta Fairs and Conventions Centre
- Palace Landscaping Limited – set up originally to offer services to Group entities. CPHCL plans to grow this business. It has just signed a POS (promise of sale) to purchase a nursery on the outskirts of Attard.
- Palace Concierge Limited – still in its infancy, this was set up to offer one stop shop services to the film industry.
Bond Details
| Issuer | CPHCL Finance p.l.c. |
|---|---|
| Guarantor | CPHCL Company Limited |
| Amount | €45,000,000 |
| Coupon | 5.35% per annum |
| Maturity Date | 18 December 2035 |
| Denomination | €100 per bond |
| Issue Price | €100 per bond (at par) |
| Interest Payment Date | Annually on 18 December |
| Minimum Subscription | €2,000 and multiples of €100 thereafter |
| Listing | Official List of the Malta Stock Exchange |
The bond is unsecured and guaranteed by CPHCL Company Limited.
Use of Proceeds
Proceeds from the issue will be used to:
- Repay the €40 million 4.25% 2026 bonds currently in issue; and
- Finance existing and prospective capital expenditure projects undertaken by the Corinthia Group.
Offer Period and eligibility
Applications for the Bonds will open on 14 November 2025 and close on 10 December 2025, or earlier if the total amount is fully subscribed.
The offer is open to:
- Existing holders of the Corinthia Finance p.l.c. 4.25% 12/04/2026 Bonds (ISIN: MT0000101262)
- The record date (Cut-Off Date) for such eligibility shall be 7 November 2025 (trading session of 5 November 2025).
- Eligible bondholders may submit a roll-over application for a minimum of €2,000, with the option to apply for additional amounts in multiples of €100.
- The general public through authorised financial intermediaries, including MeDirect.
How to Apply
Full details about this bond are set out in the Base Prospectus and Final Terms dated 12 November 2025 on the issuer’s website accessible from https://cphcl.com/corinthia-finance/.
Investors wishing to apply may do so by:
- Sending a Secure Mail via the MeDirect platform, or
- Contacting their Relationship Manager directly.
For further information, please call us on (+356) 2557 4400 or send an email to customerservice@medirect.com.mt.
The information set forth in this article is only for informative purposes and should not be construed as an offer to sell or solicitation of an offer to subscribe for or purchase any investment. The information provided is subject to change without notice and does not constitute investment advice or any guarantee of returns. Please consider the terms and conditions governing the relevant investment prior to making any investment decision. Investors should note that at worst they may lose all of their invested principal in the event of default, insolvency and/or bankruptcy of the relevant issue.
The financial instruments discussed are intended for retail clients, however, may not be suitable for all investors and investors must make their own informed decisions and seek their own advice regarding the appropriateness of investing in financial instruments or implementing strategies discussed herein.
MeDirect Bank (Malta) plc has based this document on information obtained from sources it believes to be reliable but which have not been independently verified. MeDirect Bank (Malta) plc does not therefore provide any guarantees, representations or warranties. The value of any investment or income may go up as well as down and past performance is no guarantee of any future performance. When an investment is denominated in a currency other than your local or reporting currency, changes in exchange rates may have an adverse effect on your investment.
MeDirect Bank (Malta) plc, company registration number C34125, is licensed by the Malta Financial Services Authority under the Banking Act (Cap. 371) and the Investment Services Act (Cap. 370). This material shall not be reproduced in any way, whether in whole or in part. Any unauthorised disclosure, use or dissemination, either in whole or in part, of the material contained within is strictly prohibited.
