On 10 February 2017, the Bank of Mauritius issued 3.25% Benchmark Five-Year Government of Mauritius Bonds maturing on 10 February 2022, for a nominal amount of Rs1,800 million through an auction held on 08 February 2017. The auction was re-opened on 18 April 2017 and a nominal amount of Rs2,200 million was issued.
2. Pursuant to the issuance plan dated 09 December 2016 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 announce the re-opening of the 3.25% Benchmark Five-Year Government of Mauritius Bonds maturing on 10 February 2022 through an auction to be held on Wednesday 14 June 2017, for a revised nominal amount of Rs2,000 million for settlement on Friday 16 June 2017.
3. The Bank will receive bids from Primary Dealers for this auction on the same day, i.e. Wednesday 14 June 2017 on a yield basis quoted to two decimal places, in multiples of Rs100,000. Primary Dealers may submit, for their own account up to a maximum of five bids, one for each bid yield, which, however, should not exceed the tender amount in the aggregate.
4. Primary Dealers may submit their bids through the Reuters Dealing System before 10.00 a.m. on Wednesday 14 June 2017. Bids received after the prescribed time and date will not be considered.
5. The results of the auction will be announced on the same day and bidders will be informed accordingly through ‘Letter of Acceptance’. Successful tenderers will be required to effect payment of the cost price of the Bonds through the Mauritius Automated Clearing and Settlement System (MACSS) at latest by 11.00 a.m. on Friday 16 June 2017. Payment of maturity proceeds and interest accruing on the Bonds by the Bank will also be made through the MACSS.
6. The Bonds will be issued dated 16 June 2017 and will mature and be redeemed at par by the Bank of Mauritius on 10 February 2022. The Bank may, at its discretion, allow the Bonds to be redeemed or converted into other instruments at market rates prior to maturity.
7. Interest on these Bonds will be paid half-yearly on 10 August and 10 February by the Bank during the currency of the Bonds to the bank account of the registered bondholder(s). Interest will accrue on the Bonds as from 10 February 2017 on the nominal amount allotted and will cease on the date of their maturity.
8. The cost price for the Bonds allotted will include interest from 10 February 2017 to 15 June 2017.
9. The Bonds will be issued in Book-Entry form and records will be kept at the Bank of Mauritius. The Bonds may be freely traded and are transferable from one investor to another in multiples of Rs100,000.-
10. 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.
07 June 2017
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