14 June 2017
1. Pursuant to the Communiqué of 29 December 2016 on the Buyback Plan of Government of Mauritius Securities and, in accordance with section 5 of the Public Debt Management Act 2008 and section 57 of the Bank of Mauritius Act 2004, the Bank is pleased to invite bids for the buyback by Government of the Benchmark Three-Year Government of Mauritius Treasury Notes maturing on 25 July 2017. The Buyback, which will be for a maximum aggregate nominal amount of Rs1,000 million will be carried out through a reverse auction to be held on Tuesday 20 June 2017 for settlement on Friday 23 June 2017.
2. The Bank will receive bids from holders of the above-mentioned securities for this reverse auction on the same day, i.e. Tuesday 20 June 2017, on a price basis quoted to three decimal places in multiples of Rs100,000. -, on buyback tender forms which are obtainable on its website. Bidders may submit, for their own account up to a maximum of five bids, one for each bid price. The total amount of bids should not exceed the maximum buyback amount. Banks and/or licensed stockbrokers may also submit bids for the account of each of their customers on the same conditions. All Tender Forms must bear the official stamp of the institution submitting the bids.
3. Applications from non-financial institutions should be made through banks or licensed stockbrokers offering these services.
4. The completed tender form/s should be placed in a sealed envelope marked “Tender for Buyback of Government Securities” and deposited in the tender box, marked ‘A’, for Government Securities, at the Banking Hall of the Bank of Mauritius, Bank of Mauritius Tower, Sir William Newton Street, Port Louis, before 10.00 a.m. on Tuesday 20 June 2017. Banks may submit their bids through the Reuters Dealing System. The results of the auction will be announced on the same day and successful tenderers will be informed accordingly. Payment to successful tenderers will be effected through the Mauritius Automated Clearing and Settlement System (MACSS) at latest by 11.00 a.m. on Friday 23 June 2017.
5. For assessment of the bids, the remaining time to maturity of the respective instruments as on 22 June 2017, their coupons and the average weighted yields on last issued Treasury Bills with the corresponding time to maturity will be taken into account.
6. The Bank of Mauritius reserves the right to accept or reject any bid either in full or in part, without assigning any reason in respect thereof.
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