Phoenicia Finance Company plc, the finance company that owns, manages, and operates the renowned five-star Phoenicia Malta, has successfully completed a €50,000,000 bond offering. The five-year 5.75% unsecured bonds (2028-2033) were issued on 8 February 2024 and were fully subscribed within days of issue. The offering was completed yesterday, 12 March 2024, at the Malta Stock Exchange.
Owned by property and hospitality entrepreneur Mark Shaw, Phoenicia Finance Company plc is now in an even stronger position with a financing platform for additional local development over the next decade. Plans will further enhance the Phoenicia site to create more facilities, rooms and jobs, while showcasing the unique and important history of the property and its surroundings.
Mark Shaw and Simon Zammit, CEO of the Malta Stock Exchange.
Commenting on the successful bond offering at the Malta Stock Exchange yesterday, Shaw stated, "We strongly believe in the potential of The Phoenicia Malta - as well as that of Valletta and Malta - on the world stage. The last few years have seen us invest heavily in a rigorous process to enhance our product and service, and the results are evident in both our occupancy rates and guest feedback. It is satisfying to see what has been achieved so far."
Now, this bond issue allows Phoenicia Finance Company plc to strategically plan its next investments, and demonstrates the market's confidence in the company's vision and The Phoenicia Malta's strong performance.
Mark Shaw and Jean Pierre Castaldi (Director of Phoenicia Malta Limited) at the Malta Stock Exchange
"For us, this is just the beginning of further investment into The Phoenicia Malta and Malta itself. This is all part of an exciting, high-quality ongoing plan and we look forward to bringing it to fruition," Shaw concludes.