A bond issue from Bonnici Bros. Properties has been granted admission to the Malta Stock Exchange after being subscribed in full.

Trading in the security commenced on Tuesday 4th April.

The bonds have a coupon rate of 5.25 per cent and mature in 2033.

The principal purpose of the bonds is to diversify the property portfolio and income stream of the company.

The amount of circa €5,867,053 will be used to settle the purchase price and loan amounts for the acquisition of properties in Sliema and Floriana, a quarry in Mqabba, and three suites in Mercury Towers.

The amount of circa €3,751,200 will be used for payment of works for the development to completion of the Mercury Suites and the Ta’ Habel Mica property.

The remaining balance of net proceeds, an amount of circa €2,231,027, will be used for the general corporate funding purposes of the issuer.

Bonnici Bros. Properties has a diversified property portfolio which allows it to maximise its returns from a number of different sectors, which include the industrial, construction, hospitality, residential and academic sectors.

The objective of asset restructuring of the immovable property outside the Bonnici Group is to maximise the proper economic and investment diversification in order to expand the real estate sector through long-term strategies.