Euro Marketing has released over MVR 7 million as the initial payment to investors in its private placement bond. This marks a significant milestone, as Euro Marketing’s bond was the first private placement to be listed in the Maldives.
The four-year conventional amortized bond subscription closed on March 5 of last year. Bondholders will receive interest and principal payments annually throughout the four-year duration.
Euro Marketing issued an MVR 25 million bond with a four-year repayment period, offering an interest rate of 7.5%. This rate is notably lower than average bank interest rates in the Maldives, which typically range between 10% and 15%.
First National Finance Corporation, a company with expertise in structuring financial market bonds, served as the lead arranger in the launch. First National has since launched the first securities of Eye Care Pvt Ltd, opening them for subscription on the Viyana platform.
