| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

Bond Market News

Maldives Raises $200mn via 5Y Sukuk at 10.5%

March 30, 2021

Maldives raised $200mn via a 5Y Sukuk at a yield of 10.5%, unchanged from initial guidance of 10.5% area. The bonds have expected ratings of B3 and received orders over $370mn, 1.9x issue size. The bonds carry a coupon of 9.875% and will be issued off a $1bn trust certificate issuance programme. Maldives is offering to buy back all of its $250mn 7% 2022s at par, which is over 5% higher than where the 7% 2022s are currently trading at – 94.84, yielding 11.8% in secondary markets. The popular luxury island holiday nation is rated CCC by Fitch, downgraded from B in November last year.

Related Posts:
Registered office: 8 Marina View, #43-062 Asia Square Tower 1, Singapore 018960
© Copyright BondbloX 2024, All Rights Reserved.