Strong economic growth in the Maldives is expected to help lower the nation's borrowing costs in future, the government said on Tuesday, after the Indian Ocean archipelago raised $200 million via a debut sovereign bond last week. The government issued the 5-year bond with a coupon of 7 percent, with Hong Kong-based BoCom International Holdings Co Ltd acting as the sole global coordinator for the offering.
"The government thinks this is a fair coupon rate for international investors whilst remaining affordable for the Maldives. It is in fact a robust rate if we look at similar recent offerings," a government spokesperson said in a statement emailed to Reuters.