Republic of Maldives $200 million 7% debut sovereign bond issue

Overview:

• The Republic of Maldives has issued its debut $200 million sovereign bond.
• The 7% notes are due in 2022.
• This is the first ever US dollar bond issue by the Maldives.
• BoCom International acted as global coordinator, the first time that a Chinese investment bank has taken such a role on an international sovereign bond issue. According to Reuters, this is in part down to the role the country has in China's Maritime Silk Road project
• 83% of the notes were sold to Asian investors and 17% to Europeans.
• 85% of the buyers were asset managers, 10% were banks and 5% were private banks.

Katrin Kostadinova - Data analyst