Maldives’ first bond issuance closed with investor support

Fedo Private Limited (Fedo) makes history by successfully closing the Maldives' first-ever bond issuance by a construction company, raising MVR 48.9 million through a private placement on the Viyana Platform.

This marks a significant step forward for the Maldives capital market, creating new pathways for businesses across diverse sectors to access long-term financing.

The 5-year bond carries a coupon rate of 8.5 percent per annum. It received strong backing from institutional investors, including Maldives Pension Administration Office, insurance industry players as well as retail investors.

Fedo and Dhivehi Investment Partners Private Limited (DIP) extend their appreciation to all participating investors for the trust and confidence places in this pioneering issuance.

DIP served as Lead Arranger and Principal Advisor for the transaction. This debut bond issuance not only reflects Fedo's strong corporate reputation but also sets a precedent for other companies to explore capital market financing. It underscores the emerging role of the Maldivian capital market in financing business ventures and highlights opportunities it offers for private enterprises to broaden their funding base through the Maldivian capital market.

Proceeds from the issuance will support Fedo's planned diversification into the service and hospitality sector.