Maldives settles $24.6 million Sukuk coupon, reaffirms commitment to debt obligations

Maldives on Wednesday successfully completed the October 2025 coupon payment of USD 24.6 million on its USD 500 million Sukuk issued in 2021, reinforcing its continued commitment to honouring sovereign debt obligations and maintaining investor confidence.

According to a statement issued by the Ministry of Finance and Planning, the Sukuk carries semi-annual coupon payments due every April and October and is scheduled to mature in April 2026. The Ministry confirmed that the government will make the final coupon payment of USD 24.6 million along with the full principal amount of USD 500 million at maturity next year.

“Fulfilling debt obligations in a timely manner remains a key priority of the government,” the statement read. “The successful completion of the latest coupon payment demonstrates the government’s continued commitment to honouring its financial obligations and maintaining the confidence of international investors.”

The Ministry further reiterated that the government “reaffirms its dedication to responsible debt management and will continue to work towards sustaining fiscal stability and creditworthiness as it prepares for the final settlement of the Sukuk next year.”

This latest payment underscores the government’s proactive approach to debt servicing and its focus on maintaining fiscal discipline despite global economic challenges. The timely settlement of the coupon payment is expected to further strengthen the Maldives’ reputation among international bondholders and financial institutions ahead of the Sukuk’s maturity in 2026.