HH Finance has announced that its issuance of €27 million in 5.2 per cent secured bonds maturing in 2035 has been approved by the Malta Financial Services Authority. 

H H Finance plc was established by Hugo Chetcuti and is now led by his son, Luke Chetcuti. The company is involved in property holding and serves as the finance vehicle for the larger Hugo's Group, which operates in the hospitality and entertainment sectors.

The company had applied to the MFSA for the admissibility to listing of these bonds, with plans for them to be listed and traded on the Official List of the Malta Stock Exchange (MSE). The bonds have a nominal value of €100 per unit.

HH Finance plc intends to use a portion of the proceeds from these bonds to inter alia finance the early redemption of the €5,000,000 5 per cent unsecured secured bonds in 2023-2028 ) previously issued by the company.

Additionally, approximately €13.5 million will be used to settle loans to BOV for the acquisition of All Round Entertainment Ind. Ltd. The remaining €8 million together with any residual amounts not utilised for the aforementioned purposes will be utilised for general corporate funding purposes of the group.