Euro Marketing has made a second payment of MVR seven million to investors in its bond, continuing its commitment to those who invested in the company’s bond offering.

On December 29, 2022, Euro Marketing launched a bond issue to raise funds for the construction of a cold storage facility in Hulhumalé. This marked the first private placement bond to be listed in the country. The bond, which carries a 7.5% interest rate, is scheduled to be repaid over four years.

The bond issue was oversubscribed within just two months, with Euro Marketing successfully raising MVR 25 million in total. Unlike traditional bank loans, bonds are a financial instrument that allows companies to raise funds from multiple investors, with the commitment to repay the principal amount along with interest over time.

In addition to the latest MVR 7 million payment, Euro Marketing had already made a previous payment of MVR 7 million to investors in March of the previous year.

First National, serving as the lead agent for the bond, played a crucial role in structuring the bond, conducting due diligence, preparing the prospectus, and facilitating the bond’s listing. The firm was also instrumental in securing financing for other companies, including Medtech and Eye Care.

As First National continues to expand financing opportunities for private sector companies, the firm believes that these efforts represent a significant step toward diversifying and strengthening the country's financial sector.