€8,000,000 Bond Issue launched by Dizz Finance
Dizz Finance, a company forming part of the DIZZ Group, operators of clothing franchises Terranova, Liu Jo and Calliope, among others, has announced the issue of an €8 million unsecured bond, following approval from the Malta Financial Services Authority.
The bonds carry an interest rate of five per cent and are redeemable in 2026. The bonds are being issued by Dizz Finance with the joint and several guarantee of Dizz Group of Companies, the parent company of the DIZZ Group.
The Dizz Group was set up by entrepreneur Diane Izzo in 2000 and currently employs 140 fulltime staff.
“This is a huge milestone for our group of companies and follows a series of other achievements we have made throughout the past year where we have broadened our fashion offering substantially and invested heavily into the retail experiences of our shops,” said Ms Izzo.
The Group now operates 19 outlets across Malta, concentrated in the St. Julian’s, Valletta and Sliema area. Having opened a Terranova megastore in Iklin in June, the Group is now scheduled to open another in Fgura in the coming days.
In addition to the aforementioned brands, the Group recently acquired the brands GUESS, 7 Camicie, Michael Kors and Brooks Brothers, as well further high-end franchises, namely Elisabetta Franchi and Max & Co., the Group is currently in the process of acquiring representation rights for a number of other high-end brands.
Dizz Group also operates a beauty product outlet at Tigne Point (The Make Up Store) and four cafeterias through the representation of the Italian franchise Caffé Pascucci.
The Group is currently in the process of acquiring a commercial property in Gzira with a view to converting same into the fifth Caffé Pascucci outlet.
The retail business of the Group is complemented by the real estate interests of Dizz Finance, through which the Group manages a portfolio of properties held primarily for rental income and cap-ital appreciation.
Dizz Finance has recently obtained the approval of the Malta Financial Services Authority for an €8,000,000 bond issue. The Bonds will be issued at par with a nominal value of €100 each. A minimum holding of €3,000 in Bonds applies.
The Bonds will have a term of ten years, redeemable in October 2026. Interest is to be paid annually in October, with the first interest payment date being on or around 7 October 2017.
The proposed Bond Issue is unsecured and not underwritten, but is guaranteed by Dizz Group of Companies, the parent company of the DIZZ Group.
Copies of the Prospectus are available on the websites detailed below, as well as from the following addresses: • Dizz Finance Dizz Buildings, Triq Il-Harruba, Santa Venera, SVR 1701, Malta. www.dizz.com.mt or • Financial Planning Services 4, Marina Court, G. Cali Street, Ta’ Xbiex XBX1421, Malta. www.bonellofinancial.com Hard copies of the Prospectus are also available from the Authorised Financial Intermediaries as listed in Annex I of the Securities Note forming part of the Prospectus during normal business hours (8:30am to 5pm). Applications must be lodged with any said Authorised Financial Intermediary.