Plaza Centres pls has announced that its long-running bond buyback programme has once again been extended.

In a statement posted to the Malta Stock Exchange, the company announced that during February it repurchased a total of €1,405,000 (nominal) of its 3.9 per cent unsecured bonds 2026.

The €8.5 million 2016 bond issue was used by the issuer to grant a loan to a subsidiary for the acquisition of Tigne Place and to refinance the company’s own bank facilities.

Tigne Place was resold in 2020, and since then the company has been attempting to repurchase issued bonds.

Plaza Centres extended the offer to stand in the market to purchase the remaining balance of €595,000 until 31st March 2022 at a maximum price of €103.50 per Bond.

About Plaza Centres plc

Plaza’s vision is to continue to be the best shopping, business and leisure destination in Malta. 

For the past twenty years, the company sought to maintain its leadership status in an industry constantly attracting new entrants. The company’s ability to align its resources to meet its objectives were key factors that assisted Plaza Centres plc to achieve its competitive advantage. These strategies involved the alignment of its human resources and the company’s assets with its capacity to adapt to the changes taking place in the external environment.

Its dedicated, loyal, customer focused and highly trained human resources were a central factor that contributed towards Plaza’s success.

The company‘s principal activity is to lease, manage, maintain and market the Plaza Shopping and Business Centre in the heart of Sliema’s Commercial area.

A secondary activity is the development of new extensions to the company’s existing building. During the past 10 years, Plaza Centres plc embarked on three extension projects, increasing its rentable areas by an additional 4,000 sqm.