Corinthia Palace Hotel Company Limited (CPHCL Finance plc), a special purpose vehicle set up to handle the Corinthia Group’s financing operations, has submitted an application to the Malta Financial Services Authority (MFSA) seeking admissibility to listing of a €45 million 5.35 per cent Unsecured Bond redeemable in 2035.
The new bond issue is primarily intended to finance the redemption of the existing €40 million 4.25 per cent unsecured bonds 2026, which are due for repayment next April. The remaining €5 million from the proceeds, after deducting bond issue expenses, will be allocated towards capital expenditure projects within the wider Corinthia Group.
Subject to regulatory approval, CPHCL Finance will give preference to holders of the maturing 2026 bonds, allowing them to subscribe to the new issue by surrendering the corresponding nominal value of their current holdings.
The company has set 7th November 2025 (with the last trading session on 5th November 2025) as the cut-off date for eligibility. The existing 2026 bonds will cease trading on the Malta Stock Exchange at the close of business on 5th November 2025, until further notice.
An additional amount of up to €5 million in nominal value, together with any balance not taken up by holders of the maturing bonds, will be made available for subscription by authorised financial intermediaries through an intermediaries’ offer.
Further details about the new bond issue will be announced once approval is granted by the MFSA.
Meanwhile, the group also published its unaudited half-yearly financial report covering the six months between 1st March and 31st August 2025, reporting an increase in revenues when compared to the previous year.
Corinthia Group also expects revenues and EBITDA to increase by the end of the financial year, mainly on account of the first full year of operations of several new hotels.
It noted that it remains focused on controlling costs, while also exploring opportunities to sell non-core or fully mature assets. It said it is expecting the sale of a significant portion of a hotel before the end of the financial year, the proceeds of which will go towards reducing the overall debt of the group, as well as a combination of dividends and further investment opportunities.
