Agora Estates has closed its €20 million secured bond offer early after the issue was fully subscribed, the company said in a market announcement. The offer period for its 5.75% secured bonds redeemable in 2038 has shut ahead of the originally scheduled closing date of 30th October 2026.

The issue comprises a maximum of €20 million in secured bonds, each with a nominal value of €100. Once the bonds were fully taken up, the company said it would exercise its right to bring the offer period to an early close.

According to the prospectus, Agora Estates expects to receive approximately €19.3 million in net proceeds once issue expenses are deducted. The funds are earmarked for refinancing existing debt, financing property acquisitions and development, settling a bank balance and meeting general corporate funding requirements.

The bonds are secured by a first-ranking special hypothec over five group properties forming part of the secured asset, held by a security trustee for the benefit of bondholders. Each bond is redeemable at par on maturity in 2038.

Agora Estates plc is the holding company and financing arm of Agora Group, a Maltese property development and management company that oversees both residential and commercial projects. The group has tapped the debt market before. It previously issued a first tranche of bonds worth €12 million, carrying a coupon rate of 5.8% and maturing in 2036.

The company has also been buying. Earlier this month it acquired D Shopping Mall next to Sliema’s The Point, with a rebrand planned for the site.

Agora Estates said it would announce the basis of acceptance and the steps that follow by Tuesday 27th October 2026 at the latest.