On Friday (today), Halmann Vella Group announced that its €23 million bond issue, as detailed in the prospectus dated 28th June 2023, has been fully subscribed.

As a result, the Intermediaries’ Offer scheduled for 26th July 2024 will not take place. The basis of acceptance and allocation policy will be announced by no later than 26th July 2024. 

Earlier this month, the group was granted approval by the Malta Financial Services Authority (MFSA).

The bond issue was first announced last May, with the aim of refinancing an existing €30 million bond issue that is due to be redeemed on 6th November 2024.

Last month, Halmann Vella Group suspended the trading of its maturing bonds ahead of the new bond issue.

The secured bonds will carry a 5.35 per cent coupon rate and are set to mature between 2031 and 2034.

Kevin Rapinett, Group CEO of Halmann Vella Group, stated that the “strong confidence in the company's vision and strategic direction is truly encouraging.”

He expressed his gratitude to the trust shown in the group by its loyal bondholders, its team of advisors and the support received from financial intermediaries.

This announcement coincides with a significant milestone for Halmann Vella, as the company celebrates its 70th anniversary.

Over the years, Halmann Vella, a known provider of natural stone products, has evolved from a family-run business into an established group “that blends professional management with foundational family values, whilst broadening its horizons through a strategic property portfolio.”

With a workforce of over 200 employees, Halmann Vella operates from two of the industry's largest manufacturing facilities, featuring the latest technology and a showcase of natural stone.  

Halmann Vella commented that it will remain “committed to continuous investment and growth, maintaining its leadership in research, quality, and innovation.” 

More information can be found here and here.