PLEION Corporate Finance - Gestion De Fortune

MUR 5 Billion Debt Issuance in Mauritius

PLEION Corporate Finance Ltd acted as joint transaction adviser for an MUR 5 billion debt issuance (in Pounds Sterling and Mauritian Rupee) by Forty Two Point Two (FTPT), an investment holding company.

FTPT has been domiciled in Mauritius since 2013, and this was their first bond issuance. The company was leveraging the transaction expertise of PLEION corporate Finance to structure a debt issuance that was attractive to both FTPT and the new investors PLEION introduced it to that FTPT was trying to forge long term relationships with.

This was a landmark deal for Mauritian debt capital markets, being the largest debt issuance to date for any AAA-rated Issuer. The transaction attracted both foreign and domestic investors and reinforced the position of Mauritius as an international financial centre.

This debt issuance was executed under a multi-currency medium term note programme, with 3 year, 5 year, and 7 year notes denominated in both Pounds Sterling and Mauritian Rupee being issued. Some of the series of these notes were also listed on the Stock Exchange of Mauritius as part of an initiative to boost secondary market trading.

The notes are rated by GCR Ratings and FTPT has been assigned a long-term issuer rating of AAA and a short-term issuer rating of Al+ (both on a Mauritian national scale).

This transaction involved the full spectrum of PLEION Corporate Finance transaction execution expertise to help manage the interactions with legal firms in 3 jurisdictions (Slaughter and May, Benoit Chambers, and Bowmans), fundraising process (Mauritian and international investors), and the various FX and cash flow intricacies that are usually observed in deals of this significance.

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