Malé, Maldives – Maldives Ports Limited (MPL) has successfully completed the first coupon payment for its inaugural bond issuance, marking a significant milestone in the company’s financial strategy. Issued on April 11, 2023, the MVR 50 million bond offers investors an attractive annual return of 7%.
The bond issuance was met with overwhelming public demand, exceeding the initial offering amount. On July 4, 2024, MPL disbursed the first coupon payment of MVR 3.5 million to bondholders, underscoring its commitment to delivering value to investors.
First National Finance Corporation, a leading financial services firm, acted as the Lead Arranger for the bond issuance, playing a crucial role in securing financing and supporting business growth across the Maldives.
As the exclusive port operator in the Maldives, MPL has demonstrated strong financial performance. The company reported revenues exceeding MVR 200 million in the first quarter of 2024, with assets valued at over MVR 1.8 billion. This robust financial position ensures MPL’s ability to meet its obligations to bondholders and supports its ongoing expansion and development efforts.
The successful disbursement of the first coupon payment not only highlights MPL’s financial health but also strengthens investor confidence in the company’s future prospects. This bond issuance is part of MPL’s broader strategy to diversify funding sources and invest in the continuous improvement of port infrastructure and services across the Maldives.
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