Maldives Ports Limited Releases First Disbursement from Fixed Income Bond Offering
Maldives Ports Limited (MPL) proudly announces the disbursement of its first coupon payment for its debut bond issuance of MVR 50 million. The first coupon payment totaled MVR 3.5 million and has been distributed to the bondholders on 4th July 2024.
Insights
The company issued its bond on April 11, 2023, offering investors an attractive annual return of 7%. The offering received overwhelming support from the public, surpassing the initial amount offered.
Maldives Ports Limited is the exclusive port operator in the country. In the first quarter of 2024, the company reported a revenue exceeding MVR 200 million, with their asset valuation reaching over MVR 1.8 billion.
First National Finance Corporation served as the Lead Arranger for this issuance. As a leading financial services firm, First National Finance Corporation continues to excel in helping companies secure financing thereby empowering businesses across the Maldives.
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