Mediterranean Maritime Hub (MMH) has said it is optimistic about securing new investors as it faces a looming €15 million bond repayment due in October 2026.

In its newly published annual report and financial statements, the maritime services company revealed that prospective investors have already deposited €1 million into escrow as a sign of commitment to a proposed deal. Crucially for bondholders, the transaction would include a further cash injection earmarked specifically for the repayment of the €15 million bond.

Under the proposed agreement, the new investors would acquire a 49% stake in MMH, with the transaction targeted for completion by April 2026. The deal remains subject to due diligence as well as government authorisation.

MMH was granted a government concession in 2015 to operate the former shipbuilding site in Marsa as a maritime services hub for the oil and gas industry. Any change in the company’s ownership structure therefore requires formal government approval.

While the agreement has yet to be finalised, MMH said it remains confident that the contract will be concluded, allowing the company to continue operating and pursue further development of the site.

The company reported a loss of €167,000 for 2024, and its financial statements underline that continued support from shareholders, bondholders and financial institutions is essential for its survival. The accounts acknowledge that the Marsa site “remains a project in development” nearly a decade after it was handed over by the government and has yet to reach its full operational potential.

The Malta Financial Services Authority (MFSA) confirmed that trading in Mediterranean Maritime Hub Finance plc’s bonds has now resumed after being suspended earlier this year. The suspension, announced on 2 May 2025, had been imposed after the company failed to publish its annual audited financial statements for 2024 and its interim financial statements for 2025 within the timeframes required by the Capital Markets Rules.

The MFSA said it is now satisfied that the issuer has rectified its position following the publication of the audited financial statements for the year ended 31 December 2024, as well as the interim financial statements for the period ended 30 June 2025.

As a result, the suspension of trading has been lifted on the company’s €15 million unsecured bond, carrying a 4.8% coupon and maturing in 2026, restoring market access for bondholders as the company works to secure new investment and stabilise its finances.