Maldives settles the five-hundred-million Islamic bond
The April maturity is met on time as a fresh sukuk of US$350 million is placed with Gulf and Asian investors.
The government has met its April maturity on a US$500 million Islamic bond issued in 2021, the finance ministry confirmed on Wednesday. A new sukuk of US$350 million cleared the order book in under two days earlier this month; the remainder was drawn from the Sovereign Development Fund.
The settlement removes the single largest repayment pressure point of the year and pushes the next peak into 2027. Confidence in the rufiyaa peg, bankers said, will be tested again when the SDF drawdown shows up in the April reserves print.
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