Smartcare Finance plc, which is the financial arm of the Smartcare group, has announced that it will issue an €11 million bond issue which will mainly be used to help finance a luxury development in Sicily

The 5.75 per cent secured bonds have a nominal value of €100 per bond. The bonds will be redeemable on 21st October 2036.

Bella Sicilia Srl, a company within the Smartcare group that was set up with the objective of developing and selling high-end villas and premium apartments in Sicily, will use around €5.5 million to part-finance the construction and development costs of the Laguna Residences project. The project is located between the beaches of Pozzallo and Ispica, and it consists of a residential closed gated community development.

The project will include 67 residential properties, a 1,000 sqm laguna, and a beach club known as Sora featuring a 400 sqm swimming pool. According to the company, it will feature luxury maisonette residences and villas, a cafeteria and lounge, padel courts, parking facilities and approximately 20,000 sqm of landscaped gardens and open spaces.

The company said that as at 31 December 2025, 41 units of the Laguna Residences project were subject to promise of sale agreements for an aggregate consideration of approximately €11.3 million.

The company said that Bella Sicilia secured ownership of the principal land parcels comprising the core of the Laguna Residence, adding that certain works have commenced, including the formation of road infrastructure and excavation works for the first 16 apartments. “Bella Sicilia Srl has secured the principal development site and is in the process of completing the acquisition of the remaining land parcels required for the delivery of the Laguna Residences masterplan.”

The company said that €460,000 will be used to part-finance acquisition costs in connection with the Laguna project, and €350,000 will be used for associated transactions and settlement costs.

In addition, €230,000 will be used to part-finance acquisition costs in connection with the agricultural farm adjacent to the Laguna project.

Around €750,000 will be used by Segond Boutique Hotels Limited, another company within the group, for the full repayment of an existing facility taken out with Lombard Bank, the company said.

€3.3 million from the bond proceeds will be used for the general corporate funding purposes of the group.

The company said that if the bond Issue is subscribed for an amount of less than €7 million, no allotment of the bonds shall be made, the subscription of bonds shall be deemed not to have been accepted by the Issuer and all money received from authorised intermediaries shall be returned to the respective authorised intermediary to the account number indicated in the respective subscription agreement by latest 21st October 2026.