by Megha Malhotra | Aug 18, 2021 | Sovereign Bonds
The Government of Maldives has been downgraded to Caa1 from B3. The outlook is revised to stable from negative. The rating action applies to the long term foreign currency as well as to the senior unsecured notes issued by its SPV Maldives Sukuk Issuance Limited. The...
by bondevalue | Mar 30, 2021 | Sovereign Bonds
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...
