Maldives Ports Limited (MPL) has successfully completed the first coupon payment for its inaugural bond issuance, marking a significant milestone in the company’s financial initiatives. The bond, issued on April 11, 2023, amounted to MVR 50 million and offers investors an attractive annual return of 7%.
The bond issuance received an overwhelming response from the public, with demand surpassing the initial offering amount. The first coupon payment, totalling MVR 3.5 million, was disbursed to bondholders on July 4, 2024, demonstrating MPL’s commitment to delivering value to its investors.
First National Finance Corporation, a leading financial services firm, served as the Lead Arranger for the bond issuance. The firm continues to play a crucial role in helping companies across the Maldives secure financing and support business growth.
As the exclusive port operator in the Maldives, MPL has shown robust financial performance. The company reported revenues exceeding MVR 200 million in the first quarter of 2024, with its assets valued at over MVR 1.8 billion. This strong financial footing underscores MPL’s capacity to fulfil its obligations to bondholders and pursue further expansion and development initiatives.
The successful disbursement of the first coupon payment not only reflects MPL’s financial health but also strengthens investor confidence in the company’s future prospects. This bond issuance forms part of MPL’s broader strategy to diversify its funding sources and invest in the continuous improvement of port infrastructure and services across the Maldives.
