Copyright timesofmalta
Maltese conglomerate db Group has secured a €33 million investment following the full subscription of a bond issued by one of its companies. In a statement Thursday, db Group said the bond issued by SD Finance plc had been “fully subscribed, reflecting strong investor confidence in one of Malta’s largest business groups”. The bond was issued earlier this month and will mature in 2031. The offering is the first tranche of a €60 million bond programme announced by db, with a further €27 million issue slated for next year. The group said the investment would support its expansion in Malta and overseas, including its Hard Rock Hotel & Residences Ras Al Khaimah project in the United Arab Emirates and its recently opened Mayfair restaurant Aki London. Thursday’s bond results follow a record financial year for the group; in the 12 months leading up to March, it reported a €99.2 million turnover, an increase of almost 11.8% on the previous year. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) rose by just over 15% to €35.79 million while net profits reached €18.6 million. The group’s net asset value 15% to €241 million, with total assets now standing at €591 million, it said. “We are delighted with the market’s response. This full subscription confirms the strong faith investors have in db Group’s financial stability, business model, and long-term vision,” said db Group CEO Robert Debono. Founded in 1984, db Group has grown from a small family-run guesthouse into one of Malta’s largest businesses.
