“New MGS Issues – November 2025 – Prices Announced…”

On 13 November 2025, the Treasury Department announced the pricing of three new Malta Government Stocks for a total nominal amount of €350 million, with an additional over-allotment option of up to €100 million:

• 2.55% Malta Government Stock 2030 (V) at €100.00 with a YTM of 2.5495%, which corresponds to an annualised rate of 2.5658%,

• 3.40% Malta Government Stock 2035 (IV) F.I. at €100.00 with a YTM of 3.3996%, which corresponds to an annualised rate of 3.4285%, and

• 3.80% Malta Government Stock 2040 (II) F.I. at €100.00 with a YTM of 3.7997%, which corresponds to an annualised rate of 3.8358%.

Applications from the general public may be submitted in multiples of €100 up to a maximum of €499,900 per applicant.

Timberland Invest Ltd is currently accepting applications for the full €350 million issuance, subject to the €100 million over-allotment option in the event of over-subscription.

Applications close on Wednesday, 19 November 2025 at noon, unless closed earlier by the Accountant General.

PLAN Group plc Issues €4.2 Million Tranche 2 Under €40 Million Bond Programme

PLAN Group plc, one of the successors of GAP Group, has issued Tranche 2 of its secured bond programme, amounting to €4.2 million. The bonds, carrying a 5.1% annual coupon and maturing between 2028 and 2030, form part of the company’s €40 million issuance programme and are fully guaranteed by PLAN (BBG) Limited and PLAN Qawra Limited.

Proceeds will support key development projects, including €2.07 million allocated to the Qajjenza Care Home and residential complex in Birżebbuġa, and a further €2.07 milliontowards a residential project in Qawra, comprising 188 units and 160 parking spaces.

This follows the successful €24 million Tranche 1 issued last month. The Group continues to leverage its bond programme to advance strategic developments while maintaining financial stability and growth.

MedservRegis plc Reports Strong Q3 Performance and Extends Bond Offer

MedservRegis plc, an integrated logistics provider to the energy and mining sectors, reported record results from its Malta operations, achieving 150% growth over the same period last year.

According to its Q3 2025 interim report, Group revenues for the first nine months rose 37% year-on-year to €68.8 million(2024: €50.2 million), driven by strong activity in Malta, Cyprus, and the Middle East. The Integrated Logistics Support Services (ILSS) segment doubled its revenues to €43.8 million, supported by major offshore campaigns for ENI, Mellitah Oil & Gas, Saipem, and ongoing work with ExxonMobil in Cyprus.

The outlook remains positive, with continued growth expected in Malta and Libya following the launch of the Misurata base, and preparations underway in Cyprus for a 2026 multi-well drilling programme. Expansion in the Middle East, Sub-Saharan Africa, and the Americas also remains a strategic focus, with the Suriname base set to commence operations in the second half of 2026.

Despite regional geopolitical risks, the Group said it remains confident in its diversified footprint, solid order book, and disciplined execution.

Meanwhile, MedservRegis announced an extension of its €25 million bond offer to 1pm on 20 November 2025, allowing more time for both existing bondholders and new investors to participate. The proceeds will refinance existing 2015 bond issues and support the Group’s ongoing financial and operational growth plans.

Malta International Airport Reports Strong Growth in 2025

Malta International Airport (MIA) reported strong operational and financial performance for the first nine months of 2025, reflecting a robust recovery and continued expansion.

By the end of September, the group recorded a net profit of €41.4 million, in line with its August guidance. Passenger traffic between January and September reached 7.6 million, up 10.8% year-on-year, driving revenues to €118.5 million, nearly 10% higher than in 2024.

In October, MIA handled 978,445 passengers, a 16.7% increase over the same month last year. Seat capacity rose 17.3%, while the seat load factor remained strong at 86.1%, underscoring sustained travel demand.

The United Kingdom remained the leading market, accounting for 20% of passenger movements, followed by Italy, Germany, Poland—the fastest-growing market with a 60.6% rise—and France.

Higher passenger volumes led to increased staff costs (18.6%) and operating expenses (15.6%), supporting service quality amid growing demand. Capital investment reached €42.2 million, primarily directed toward key infrastructure projects such as Apron 8 and SkyParks Business Centre II to bolster capacity and support future growth.

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