Agora Estates has announced the early closure of its €20 million secured bond offer after the issue was fully subscribed.

In a company announcement, the company said the offer period for its 5.75 per cent secured bonds redeemable in 2038 is closed ahead of the originally scheduled closing date of 30th October 2026.

The bond issue comprises a maximum of €20 million in secured bonds, each with a nominal value of €100.

Following the full subscription of the bond issue, Agora Estates said it would exercise its right to close the offer period early.

Agora Estates said it would announce the basis of acceptance by no later than Tuesday, 27th October 2026.

According to the prospectus, the company expects to receive approximately €19.3 million in net proceeds after issue expenses. The funds are earmarked for refinancing existing debt, financing property acquisitions and development, settling a bank balance and meeting general corporate funding requirements.

The planned allocation includes €5.3 million to settle private-placement notes issued in 2025 and a further €1 million to settle private-placement notes issued in 2026.

The company also intends to allocate €2.15 million towards the acquisition of the Fair Deal Commercial Property in Żebbuġ and €3 million towards the acquisition of Żebbuġ Garden Centre.

A further €600,000 is earmarked for the development and completion of an additional floor at Agora Business Centre in Msida.

The proceeds will also be used to settle €750,000 in balances owed by Time and Life Limited to MeDirect Bank. Approximately €6.5 million is allocated for general corporate funding through a loan to Zammit Estates.