CF Estates Finance has announced a €3.2 million bond issue carrying a 7.5 per cent coupon rate.

The notes are secured through a first ranking pledge over shares in the guarantor, CF Estates, which has a number of property and hospitality investments, including the Levante Hotel, Scirocco Hotel, and Mistral Hotel, as well as the CF Business Centre, all in St Julian's.

Residential projects undertaken by the group include the Mayfair residences in Attard, the Macael Apartments in Paola, the Sunrise Corner in Swatar, and also the Vermont Court in Pietà.

The new notes will not be listed on the Malta Stock Exchange, or any other regulated market or multilateral trading facility.

They will mature by no later than 16th June 2029, but are subject to earlier redemption at the discretion of the company.

No prospectus is required since the total value of the bond is less than €5 million.

This notwithstanding, the secured notes may be offered to any number of investors, without limitation and shall be available for subscription by all categories of investors, including the general public.

CF Estates is owned by Francis Agius, Clifton Cassar, Duncan Micallef and Stephen Falzon after the exit of prominent developer Joseph Portelli, which was completed last month.