Dizz repays €8 million bond after completing Tigne shopping mall company sale

Dizz Finance plc has announced that its €8 million bond has been repaid in full, following the completion of a transaction involving the transfer of D Shopping Malls Limited to an investor.

The repayment confirmation closes the immediate uncertainty surrounding the bond, which was due for redemption on 7 October, after the group secured bondholders’ approval for related guarantee changes shortly before the deadline.

In its latest announcement, Dizz Finance confirmed full repayment and thanked investors for their support over the bond’s ten-year term.

A separate announcement from D Shopping Malls Finance confirmed that the investor transaction had concluded and D Shopping Malls Limited had been transferred. It said Dizz Group received the consideration and used it to repay the Dizz Finance bond.

Together, the announcements confirm both completion of the transaction and repayment.

The latest statements do not identify the investor or specify the final consideration received.

The distinction between the two bond issues remains important.

The repayment concerns Dizz Finance’s €8 million bond. The earlier bondholder vote concerned D Shopping Malls Finance’s separate €7.5 million bonds, which mature in 2028.

The transaction had originally been presented as a €9.5 million deal involving the transfer of part of the lease over the Sliema Wanderers commercial complex in Tigne. Its structure subsequently changed to a purchase of shares in D Shopping Malls Limited, the company holding the lease.

Because that company also guaranteed the 2028 bonds, the revised structure prompted proposals for replacement support from other group companies.

The proposed guarantors were Dizz Manufacturing Limited and The Retail Operations Mall Ltd, with supporting assets including D Hub in Mrieħel, the Centerparc lease and a Qui-Si-Sana apartment.

The repayment comes against a backdrop of losses at the group, owned by Diane and Karl Izzo.

Consolidated accounts recorded a €3.27 million loss in 2025, while equity fell to €5.52 million and accumulated losses reached €15.69 million.

Full repayment settles the maturing bond obligation.

For holders of the separate 2028 bonds, the latest statements provide confirmation that the transaction has closed.