Excel Finance plc’s €50 million bond issue has been fully subscribed following strong investor interest.

The 5.4% secured bonds, maturing in 2031, were fully taken up shortly after the offer opened on December 4, 2024.

"The swift and successful uptake of our bond issue demonstrates strong investor confidence in Excel Group's business model and growth strategy," said the Board of Directors of the company. "We are grateful for the trust placed in us by the investment community.”

Proceeds will refinance €25 million in existing bank loans, cover €8 million in development costs for ongoing real estate projects in Għajnsielem, Nadur, Xlendi, Għarb, Xewkija, Msida, St Julian’s, Sannat and Qala, and allocate €16.1 million for general corporate funding.

The bonds, with a nominal value of €100 each, are guaranteed by Excel Investments Holdings Limited and secured by a first-ranking special hypothec over Q Hub in Qormi and other residential properties within the group.

Listing on the Malta Stock Exchange is expected by December 31st, 2024, with trading set to commence on January 3rd, 2025.