ADK Hospitals has moved to complete its MVR 120 million bond issuance, opening subscriptions for the second and final tranche as it seeks to finance a major expansion of its healthcare facilities in Malé.
The final tranche aims to raise MVR 70 million, following the full subscription of the initial MVR 50 million offering. As with the earlier tranche, the bond carries a fixed annual coupon of 8 percent over a five-year period, positioning it as a relatively stable income instrument within the domestic capital market.
Funds raised through the issuance are directed towards the construction of a 13-storey extension to the existing ADK Hospital. The development is expected to introduce upgraded inpatient rooms, expanded outpatient services, additional amenities, and underground parking. The project is framed as part of a broader effort to improve service capacity and operational efficiency while supporting the longer-term development of healthcare infrastructure in the Maldives.
ADK Hospitals, established in 2011, has grown into the largest private tertiary healthcare provider in the country under the ADK Group. The bond issuance reflects a continued reliance on domestic capital markets to finance large-scale private sector investments in critical services such as healthcare.
The offering is being managed by First National Finance Corporation Private Limited, which is acting as lead arranger and principal adviser. The firm is responsible for structuring the bond, ensuring regulatory compliance, and coordinating investor engagement throughout the process.
With the first tranche already fully taken up, the second tranche represents the final entry point for investors into the project, at a time when demand for healthcare services continues to expand alongside population and urban pressures.
