Fedo closes MVR 48.9M bond, a first by a construction company

Fedo Private Limited has made history as the first construction company in the Maldives to issue a bond, successfully raising MVR 48.9 million through a private placement on the Viyana Platform.

Fedo said the landmark transaction marks a significant step forward for the Maldivian capital market, creating new pathways for businesses across diverse sectors to access long-term financing.

The company revealed that the five-year bond, offering an annual coupon rate of 8.5 percent, attracted strong interest from institutional investors such as the Maldives Pension Administration Office, players in the insurance industry, as well as retail investors.

Fedo, together with Dhivehi Investment Partners Private Limited (DIP), extended their sincere appreciation to all investors who participated in the landmark bond issuance, expressing gratitude for the trust and confidence placed in the offering.

The company noted that the bond was structured and managed by DIP, a licensed investment management and advisory firm in the Maldives. Serving as Lead Arranger and Principal Advisor, DIP played a key role in executing the transaction, further strengthening its position as a dependable partner in enabling local businesses to access capital markets and diversify their financing avenues.

According to Fedo, this debut bond issuance reflects the company’s strong corporate reputation and sets a benchmark for other businesses to explore capital market funding. It also highlights the growing relevance of the Maldivian capital market in supporting business growth and the opportunities it offers for private enterprises to broaden their funding sources.

Fedo added that proceeds from the bond will be directed towards the company’s planned entry into the service and hospitality sector.