PLAN Group plc, one of the successors of GAP Group, has secured regulatory approval to list the first €24 million tranche of bonds on the Malta Stock Exchange.
The bonds, part of a broader €40 million secured bond issuance programme, carry a 5.1 per cent coupon rate, will mature between 2028 and 2030, and are fully guaranteed by PLAN (BBG) Limited and PLAN Qawra Limited.
The proceeds from the bond issue, net of expenses, are expected to amount to approximately €23.55 million and will be used to support PLAN Group’s ongoing development projects:
- Qawra site acquisition: Approximately €18 million will finance the acquisition of a site in Qawra, including stamp duty, notary and brokerage costs.
- Qawra site development: Approximately €2.775 million will partially finance the construction and finishing works in line with approved planning permits.
- Birżebbuġa site: Approximately €2.775 million will be used to partially finance construction and finishing costs.
The Qawra site, located within the limits of Saint Paul’s Bay, Malta, spans approximately 4,102 sqm in the Tal-Kortin area and includes both its airspace and subterranean rights.
The proposed development includes 188 residential units and 160 garages and parking spaces on basement parking levels. It is expected to commence in 2025 and completed in 2028.
Meanwhile, the Birżebbuġa site is planned to accommodate a seven-floor care home for the elderly with 240 beds (Block A – Qajjenza Care Home), alongside 91 residential units in Block B and 112 residential units in Block C.
The Base Prospectus, dated 17th October 2025, and the Final Terms, dated 22nd October 2025, are available on the company’s website and through authorised financial intermediaries.
PLAN Group provides a wide range of services, including the development and finishing of residential projects and the operation of two care homes for the elderly. The company aims to leverage the funds raised through the secured bond programme to advance key development projects while maintaining financial stability and growth.
