MeDirect Bank (Malta) plc is now accepting applications for the €25,000,000 Finestday Malta p.l.c. 5.5% Secured Bonds redeemable in 2036.
Finestday Malta p.l.c. is a Malta-registered issuer established in connection with the ownership and development of hospitality assets linked to The Stock Exchange Hotel in Manchester, a landmark luxury hotel operating from the historic former Manchester Stock Exchange building. Through its group structure, the company is focused on expanding and enhancing this premium hospitality platform, including the planned development of Norfolk House into additional hotel accommodation, with the aim of increasing room capacity, operational scale and long-term revenue generation within Manchester’s high-end hotel market.
About the Existing Operation
The Stock Exchange Hotel occupies a landmark Edwardian Baroque building that formerly housed the Manchester Stock Exchange. Following restoration, it operates as a luxury hospitality asset in the city centre and is positioned within the higher end of Manchester’s hotel market. The property joined the Marriott Autograph Collection in 2024, providing international distribution and loyalty programme exposure.
The addition of Norfolk House is intended to materially increase room capacity and improve operating efficiencies by shifting a greater share of total floor area and revenue contribution towards accommodation, which is typically higher margin than food and beverage operations.
The Project
The bond proceeds will support the development of Norfolk House, a property located opposite the existing Stock Exchange Hotel. The project involves the conversion of the building into a 95-room hotel, which will operate as an extension to the current hotel offering, strengthening the group’s room inventory and overall operating scale in Manchester’s luxury hospitality segment.
Norfolk House comprises approximately 54,127 square feet of floor area and includes an underlying 48-space car park, forming part of the overall hospitality proposition. The development strategy focuses primarily on additional guest rooms, complemented by supporting amenities such as lounge areas, meeting rooms and wellness facilities, while leveraging the established brand, operations and market positioning of The Stock Exchange Hotel.
Planning permission has been issued for the change of use of Norfolk House to a hotel, and the development timeline indicates commencement of works in 2026, with completion targeted in 2027. Total development cost is estimated at approximately £16.3 million, inclusive of contingency.
Use of Proceeds
The bond issue is expected to raise €25 million, with proceeds allocated as follows:
- Up to €18.74 million for the development of Norfolk House
- Up to €5.66 million for general corporate funding purposes
Key Features of the Bond
- Issuer: Finestday Malta p.l.c.
- Amount: €25,000,000
- Coupon: 5.5% per annum
- Term: 10 years (maturing 2036)
- Security: Fully secured on the freehold title of the property known as Norfolk House
- Guarantee: Guaranteed by Projectco 2024 Ltd.
Full details about this bond are set out in the Prospectus and Securities Note dated 12 February 2026 on the issuer’s website accessible from https://www.finestdaymaltaplc.com/investorrelations.
Applications for this bond will be accepted on a first-come, first-served basis. If you are interested in applying, please send a Secure Mail via the MeDirect platform or contact your Relationship Manager.
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.
