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Morteza Hospitality Bonds mandates Bedford Row Capital for new USD38.5m Maldives hotel development ESG bond listing

Posted by Boahiyaa Management on 24/03/2021

Bedford Row Capital (BRC), a global non-bank structuring specialist, has been mandated to work with hospitality and leisure investments specialist, Morteza Hospitality Bonds PLC, for a listed bond offering of USD38.5million. The bond will be listed on the Frankfurt Stock Exchange maturing 2024.

The bond will finance the development of an environmentally friendly, state of the art, branded, family-oriented, upper midscale resort in the Maldives by Keredhdhoo Investment, a subsidiary of Rainbow Construction, a leading Maldivian real estate developer which has successfully developed major commercial and residential projects since 2002.

Central to the project and its financing are its environmental credentials and the preservation of the Atolls of the Maldives. The resort will therefore be constructed using modern construction techniques that combats erosion and limits construction waste, include renewables such as solar in its energy generation mix, which will provide close to 40 per cent of day-time energy requirements, ban the use of single-use plastics in its operations, and utilise a state-of-the-art sewage treatment plant, which will be environmentally friendly and is approved by environmental regulatory bodies.

Full details are available at the link below:
Source URL: Property Funds World

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