The Malé Water and Sewerage Company (MWSC) has launched its first bond offering, with First National Finance Corporation serving as the Principal Adviser for the issuance. This move represents a significant milestone for MWSC as it enters the capital market to support its strategic growth initiatives.
MWSC, a partnership between the Government of Maldives and the Japanese multinational conglomerate Hitachi Limited, has been operating since 1995 and has expanded into utilities, engineering, manufacturing, and trading. The bond will finance key projects, including infrastructure upgrades, service delivery improvements, ongoing water and sewerage projects in outer islands, and manufacturing expansions.
Valued at MVR 400 million, the bond will be issued in two tranches. The first tranche, currently open for subscription, is worth MVR 200 million and offers a 7.5% annual return over five years. Investments are open to both individual and corporate entities registered on the Viyana Platform.
First National Finance Corporation has played a crucial role in structuring the bond, conducting due diligence, and preparing the prospectus, ensuring the bond issuance aligns with market standards and investor expectations.
This bond offering not only signals MWSC’s growth ambitions but also highlights First National’s expertise in guiding significant financial projects within the Maldives. For more details, visit the Viyana Portal.
