ADK to sell MVR 120 million bond to built 15 storey structure

ADK Hospital has decided to sell an MVR 120 million bond, with the first tranche to be of MVR 50 million.

Those interested in investing in the first tranche of this bond can find relevant details on the Viyana board of the Maldives Stock Exchange. The bond is listed as a private placement.

First National is the bond's lead arranger and principle advisor. First National has structured the bond and will manage everything concerning the bond.

First National said that the bond will be issued in three separate tranches. The annual coupon rate of the bond is 8 percent, with the bond to be sold for a five year period.

ADK is selling the bond to establish additional infrastructure to further diversify their services and establish more health services. They have decided to build an additional 15 storey building.

First National said that this project would bring revolutionary changes to Maldives' health sector. With the new building, ADK will be introducing new services which are not available in the country at present.

ADK Hospital is the first private hospital opened in the Maldives. It also offers the widest range of services available at a tertiary hospital in the country.