Advanced Theory & Practice of Bonds

IBF Recognized Under FTS
1-2 December 2021

Two-day immersive course on bonds designed for private bankers and advisors. 90% funding* available to eligible company-sponsored candidates.

Maldives raised $200mn via a 5Y Sukuk at a yield of 10.5%, unchanged from initial guidance of 10.5% area. The bonds have expected ratings of B3 and received orders over $370mn, 1.9x issue size. The bonds carry a coupon of 9.875% and will be issued off a $1bn trust certificate issuance programme. Maldives is offering to buy back all of its $250mn 7% 2022s at par, which is over 5% higher than where the 7% 2022s are currently trading at – 94.84, yielding 11.8% in secondary markets. The popular luxury island holiday nation is rated CCC by Fitch, downgraded from B in November last year.

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