Phoenicia Finance Company plc, the financing arm of The Phoenicia Hotel in Floriana, has announced that it will be redeeming its €25 million 4.15 per cent unsecured bonds 2023-2028 ahead of schedule.

The bonds, initially issued in 2018, will be fully redeemed on 15th December 2024.

The decision, taken by the company’s Board of Directors on 30th September 2024, affects €5.71 million worth of bonds currently in circulation. Bondholders are set to receive the full principal amount, along with interest accrued up until 14th December 2024.

In preparation for the early redemption, all trading of the bonds on the Malta Stock Exchange will cease as of 27th November 2024. The company will also issue letters to all bondholders registered by close of business on 29th November 2024, detailing the redemption process and payment instructions.

The Board extended its gratitude to investors for their continued support over the years and provided a dedicated helpline for further inquiries.