Fijian Holdings Ltd (FHL) has successfully paid off $15.2 million in wholesale corporate bonds that were due on November 30, 2025. This significant payment reduces its overall debt from the previous $30 million bond issued in November 2022 by half, marking a notable achievement as FHL became the first company listed on the South Pacific Stock Exchange (SPX) to undertake such an initiative.
In an announcement made last week on the SPX, the iTaukei investment institution updated its shareholders on this payment, emphasizing that the bond issuance was a critical aspect of its comprehensive debt restructuring strategy, which was necessitated by the economic impacts of the COVID-19 pandemic. The $30 million bond raised in 2022 was intended to help FHL refinance short-term obligations, stabilize liquidity, and strengthen its balance sheet during a crucial phase of recovery from the pandemic.
The company detailed that a portion of the funds from the bonds was directed towards the development of the FHL Tower, its flagship commercial property project, which officially opened on October 31, 2025. Over the three-year term of the bonds that have now matured, FHL has paid a total of $1.368 million in interest to bondholders.
FHL still has two tranches outstanding from the original bond issuance. These include a $10.8 million five-year bond, set to mature in November 2027, and a $4 million seven-year bond, maturing in November 2029. The company has reiterated that it remains vigilant in monitoring market conditions and is actively evaluating funding strategies to effectively manage future maturities in line with its long-term capital structure objectives.
This proactive approach to debt management not only demonstrates FHL’s commitment to ensuring financial stability but also reflects the potential for growth and recovery within Fiji’s economic landscape as it continues to navigate the impacts of past challenges.
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