IZI Finance p.l.c. - New Bond Issue
IZI Finance p.l.c. (“the Issuer”) has announced that it will be issuing an unsecured bond amounting to €30,000,000 with a coupon of 5.5% per annum and a redemption date of 2 April 2036 (“the Bond issue”), following approval by the Malta Financial Services Authority (“MFSA”).
Issuer Profile
The Issuer is a subsidiary of IZI Group (“the Group”) and acts solely to finance the activities of the Group’s operating subsidiaries and associated companies. The Group is a key player in the Maltese land-based gaming sector actively operating in the two largest market segments, lottery and casino. Within these market segments, the Group offers a wide range of products (within the lottery segment), and sports betting and casino products (within the land-based casino segment). Total group gross revenues for the year ended 31 December 2025 reached €94.2 million, with the National Lottery contributing €64.4 million to Gross Gaming Revenues, the Dragonara Casino contributing €25.2 million and iGaming contributing €4.1 million. Operating profits amounted to €11.9 million.
For further information on the Issuer and the Bond, a link to the prospectus may be found below:-
Use of Proceeds
The proceeds from the Bond Issue, which net of Bond Issue expenses are expected to amount to approximately €29.5 million will be utilised by the Issuer for the following purposes, in the amounts and order of priority set out below:
- approximately €4 million will be used to refinance, in whole or in part, the outstanding principal due under a loan facility obtained by the Issuer from Bank of Valletta p.l.c. in connection with the implementation of the Group’s growth and early-stage international expansion initiatives, thereby optimising the Group’s capital structure and enhancing financial efficiency;
- approximately €23 million will be used to strengthen the Group’s financial position and funding capacity to support the continued identification, evaluation, and execution of international strategic opportunities, in line with the Group’s internationalisation strategy; and
- approximately €2.5 million will be applied towards general corporate funding purposes of the Group, including working capital and operational support associated with its expanding international footprint
Application Process
The Bond issue shall be available for subscription through financial intermediaries including Curmi & Partners, as follows:
- up to €15 million has been reserved for subscription by the Placement AFIs which have entered into, or shall enter into, Placement Agreements with the Issuer;
- €7.5 million together with any amount not taken up pursuant to (i) above and to (iii) hereunder shall be made available for subscription by existing bondholders; and
- €7.5 million together with any amount not taken up pursuant to (i) and (ii) above shall be made available for subscription by Authorised Financial Intermediaries pursuant to the intermediaries’ offer
All applications are subject to a minimum subscription amount of €2,000 and in multiples of €100 thereafter. No minimum holding requirement shall be applicable once the Bonds are admitted to listing on the Official List and commence trading thereafter, subject to trading in multiples of €100.
Pre-printed Application Forms to holders of the €30,000,000 4.25% unsecured bonds 2029 of the Company as at the Cut-Off Date will be mailed on 2 March 2026.
The Offer Period will open at 08:30 hours on 3 March 2026 and will close at 12:00 hours on 24 March 2026. The Issuer reserves the right to shorten or extend the Offer Period depending on the level of subscription in the Bond Issue.
Should you be interested in participating in the new bond issue or have any queries, kindly contact one of our team as per the contact details below.
| Client Manager |
Telephone Number |
E-mail Address |
| Kim Cassar |
+356 2342 6160 |
kcassar@curmiandpartners.com |
| James Borg |
+356 2342 6161 |
jborg@curmiandpartners.com |
| Tiago Teixeira |
+356 2342 6149 |
tteixeira@curmiandpartners.com |
| David Curmi |
+356 2342 6110 |
dcurmi@curmiandpartners.com |
Disclaimer
Curmi & Partners Ltd is acting as an Authorised Financial Intermediary for this bond. This communication should not be considered as investment advice or recommendation with respect to these financial instruments and the information provided herein is for informational purposes only. No tax, legal or any other ancillary regulatory advice is provided in this advertisement. The information contained in this advertisement is based on public information and reflects the Offering Documentation of the financial instruments, with the information being accurately reproduced and no facts have been omitted which would render the reproduced information inaccurate or misleading. However, Curmi & Partners Ltd has not independently verified the information it has obtained from sources that it believes to be reliable. Investors are urged to read the Offering Documentation when considering whether to invest in this financial instrument. The value of investments can fall as well as rise and past performance is no indication of future performance. Curmi & Partners Ltd is acting on a non-independent basis and may receive inducements from the Issuer of the securities. This advertisement was approved for issue by Curmi & Partners Ltd, which is licensed to conduct investment services business under the Investments Services Act (Cap 370 of the Laws of Malta) by the MFSA and is also a Member of the Malta Stock Exchange. Curmi & Partners Ltd’s registered address is at Finance House, Princess Elizabeth Street, Ta’ Xbiex, XBX 1102.
MM Triton Malta Finance p.l.c. - New Bond Issue
MM Triton Malta Finance p.l.c. (“the Issuer”) has announced the issue of a €45,000,000 secured bond carrying a coupon of 5.50% per annum and redeemable on 2 April 2032 (“the Bond Issue”), following approval by the Malta Financial Services Authority (“MFSA”) for admissibility to listing on the Official List of the Malta Stock Exchange (“MSE”). The Bond will be guaranteed by MM Triton Holdco Limited (“the Guarantor”).
Issuer Profile
The Issuer is a special purpose finance vehicle established to fund the activities of the Guarantor and its subsidiaries (together, the “MM Triton Group”). The Group forms part of the wider Millemont Capital Partners platform, a UK-focused private equity real estate investment manager established in 2021 with a track record in acquiring and operating hospitality assets across the United Kingdom.
The proceeds from the Bond Issue will be used to part-finance the acquisition of two four-star Crowne Plaza-branded hotels located in the Thames Valley region of Southeast England:
- Crowne Plaza Marlow – 168 rooms located in Buckinghamshire; and
- Crowne Plaza Reading – 174 rooms located in Berkshire.
Both hotels operate under franchise agreements with IHG, one of the world’s largest hotel groups with over 6,000 hotels across nearly 100 countries, and are managed by TROO Hospitality, a boutique white-label hotel management company with a growing UK portfolio.
The assets are strategically positioned to benefit from strong corporate, technology, film production and leisure demand in the Thames Valley, one of the UK’s most economically active regions.
On a pro forma basis, the hotels generated revenue of approximately £10.1 million and operating profit of £3.4 million for the 28-week period ended 13 July 2025. As of 13 July 2025, pro forma total assets amounted to £79.6 million, equity stood at £48.0 million, and net debt amounted to £13.5 million. Forecasts for FY2026 indicate revenues of approximately £19.3 million and EBITDA of around £6 million, broadly in line with the current operating run-rate.
For further information on the Issuer and the Bond, a link to the prospectus may be found below:-
Use of Proceeds
The net proceeds from the Bond Issue, expected to amount to approximately €43.9 million, will be on-lent by the Issuer to the Guarantor to finance, in whole or in part, the acquisition of the companies owning and operating the Marlow and Reading hotels.
The proceeds will be allocated as follows:
- approximately €26.8 million will be applied towards the acquisition of the Crowne Plaza Marlow hotel; and
- approximately €17.1 million will be applied towards the acquisition of the Crowne Plaza Reading hotel.
The Bond will benefit from first-ranking security over the collateral, including the long leasehold interests in the hotels, providing bondholders with asset-backed protection. In addition, the Bond will be supported by a joint and several corporate guarantee from MM Triton Holdco Limited.
Application Process
The Bond Issue will be available for subscription through Authorised Financial Intermediaries including Curmi & Partners Ltd.
Up to €40 million has been made available for subscription by Authorised Financial Intermediaries pursuant to the intermediaries’ offer.
All applications are subject to a minimum subscription amount of €2,000 and in multiples of €100 thereafter.
The Offer Period will open at 08:30 hours on 4 March 2026 and will close at 12:00 hours on 24 March 2026. The Issuer reserves the right to shorten or extend the Offer Period depending on the level of subscription in the Bond Issue.
Should you be interested in participating in the new bond issue or have any queries, kindly contact one of our team as per the contact details below.
| Client Manager |
Telephone Number |
E-mail Address |
| Kim Cassar |
+356 2342 6160 |
kcassar@curmiandpartners.com |
| James Borg |
+356 2342 6161 |
jborg@curmiandpartners.com |
| Tiago Teixeira |
+356 2342 6149 |
tteixeira@curmiandpartners.com |
| David Curmi |
+356 2342 6110 |
dcurmi@curmiandpartners.com |
Disclaimer
Curmi & Partners Ltd is acting as an Authorised Financial Intermediary for this bond. This communication should not be considered as investment advice or recommendation with respect to these financial instruments and the information provided herein is for informational purposes only. No tax, legal or any other ancillary regulatory advice is provided in this advertisement. The information contained in this advertisement is based on public information and reflects the Offering Documentation of the financial instruments, with the information being accurately reproduced and no facts have been omitted which would render the reproduced information inaccurate or misleading. However, Curmi & Partners Ltd has not independently verified the information it has obtained from sources that it believes to be reliable. Investors are urged to read the Offering Documentation when considering whether to invest in this financial instrument. The value of investments can fall as well as rise and past performance is no indication of future performance. Curmi & Partners Ltd is acting on a non-independent basis and may receive inducements from the Issuer of the securities. This advertisement was approved for issue by Curmi & Partners Ltd, which is licensed to conduct investment services business under the Investments Services Act (Cap 370 of the Laws of Malta) by the MFSA and is also a Member of the Malta Stock Exchange. Curmi & Partners Ltd’s registered address is at Finance House, Princess Elizabeth Street, Ta’ Xbiex, XBX 1102.