Issue link: https://maltatoday.uberflip.com/i/1544723
7 maltatoday | SUNDAY • 3 MAY 2026 COMMERCIAL Challenge Group launches €30 million secured bond programme MALTA-BASED Challenge Avi- ation p.l.c. (C 113656) has an- nounced the launch of a €30 mil- lion secured bond programme to be issued in one or more tranch- es over 12 months, providing investors with the opportunity to participate in the company's continued international expan- sion in air cargo and logistics. The programme will be guaran- teed on a joint and several basis by Challenge Aviation Holding Limited (the "Guarantor") and will be secured by a first-ranking pledge over a Boeing 747-400F aircraft (MSN 33729) with an estimated current market value of $39.8 million. The security package also includes an Aircraft Security Agreement (with an In- ternational Interest registered under the Cape Town Conven- tion), a Pledge on Insurance with a replacement value of USD 50 million, and a Tripartite Agree- ment. The security structure also includes ongoing valuation and collateral maintenance under- takings. Tranche 1 will be issued in de- nominations of €100 at par, and will carry a fixed annual interest rate of 5.75% per annum (gross), with a term of six years and ma- turity in 2032. Tranche 1 will amount to €30 million, repre- senting the full bond programme. Proceeds will be used to partly finance the Target Aircraft Loan obtained for the acquisition of a Boeing 777-300ER aircraft (MSN 38284) for approximately USD 41.5 million. The minimum sub- scription amount is €5,000, and the offer period will run from 29 April 2026 to 15 May 2026. Founded in 1976, Challenge Group is a fully integrated air cargo and logistics organisation combining airline operations, ground handling, maintenance, and global logistics services. Its structure enables end-to- end cargo solutions tailored for time-sensitive and high-value shipments. The board of Challenge Avi- ation p.l.c. highlighted that the bond programme represents an important milestone for the ex- pansion of the issuer's aircraft leasing operations. The Bond Group currently owns 14 aircraft valued at $372.78 million over- all, with funds raised intended to further support the Group's growth strategy in the air cargo sector. Calamatta Cuschieri Invest- ment Services Limited is acting as Sponsor, Manager and Reg- istrar. Interested investors can subscribe through any of the authorised financial intermedi- aries. The full Base Prospectus and Final Terms are available at: https://www.challenge-avia- tion-plc.com/ and https://www. mfsa.mt./ IMPORTANT NOTICE: This is an advertisement issued by Challenge Aviation p.l.c., C 113656. Prospective investors should read the Base Prospectus and Final Terms in full before in- vesting. Investment in the Bonds involves risks, including po- tential loss of capital. The Base Prospectus has been approved by, and the Final Terms have been filed with, the MFSA. This should not be considered an en- dorsement of the Issuer or the Bonds. The value of the investment may go down as well as up. This advertisement does not con- stitute investment advice or a recommendation, and inves- tors should seek financial, legal and tax advice if in any doubt as to the suitability of the invest- ment. The full Base Prospectus and Final Terms are available at: https://www.challenge-avia- tion-plc.com/ and https://www. mfsa.mt./ Malta-based Challenge Aviation p.l.c., C 113656 has announced the launch of a €30 million secured bond programme to be issued in one or more tranches over 12 months, providing investors with the opportunity to participate in the company's continued international expansion in air cargo and logistics. Investment in the Bonds involves risks, including potential loss of capital.