MWSC launches MVR 400 million bond
MWSC's decision to offer bonds reflects its strategy to mobilise capital for key investments and infrastructure development.
Maldives Water and Sewerage Company (MWSC) has opened a bond valued at MVR 400 million on the Maldives Stock Exchange.
The bonds, listed on the exchange's Viyani portal, were made available to investors as of Thursday. MWSC, in which Japan's Hitachi holds a 20% stake, has structured the bond offering into two rounds.
First National Finance Corporation, serving as a consultant for MWSC, provided details about the bond:
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The first round includes bonds worth MVR 200 million.
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Investors in the first round will receive an annual interest rate of 7.5% over five years.
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The funds aim to accelerate MWSC’s ongoing and planned projects.
The proceeds from the bond issuance will support several objectives, including:
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Expanding water and sewerage services across the country.
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Accelerating ongoing water and sewerage projects in various regions.
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Developing and broadening the company's equipment-related business operations.
MWSC's decision to offer bonds reflects its strategy to mobilise capital for key investments and infrastructure development. The first round of the bond issuance is now open for subscription.
