Advanced Search

Communique : Issue of 4.25 % Three Year Bank of Mauritius Golden Jubilee Bond

The Bank of Mauritius is pleased to announce the issue of a Three-Year Bank of Mauritius Golden Jubilee Bond with effect from 15 March 2018.

  1. Period of Issue

The issue will remain open for a period of 3 months and will close on 15 June 2018 or earlier if the Bank so decides.

  1. Eligible Purchasers

The bond will be issued at par in multiples of Rs25,000 to individuals who are Residents of Mauritius up to a maximum cumulative investment amount of Rs5,000,000.- per investor whether singly or jointly and to locally registered NGO’s running on a non-profit making basis for the same maximum investment amount of Rs5,000,000.  Individuals will have the option to register the bond in the name of:

  1. A single adult;
  2. Two adults jointly, repayable to them jointly or to either or survivor;
  3. A minor by a guardian

Eligible investors will have to submit their ID Cards and/or Registration certificates and a proof of address. In case of minors, their original birth certificates should be submitted by the guardian.

  1. Frequency and mode of Interest payment

Interest at the rate of 4.25 % per annum will be paid on a quarterly basis on the Three-Year Bank of Mauritius Golden Jubilee Bond.  The first interest payment will be effected on 15 June 2018 and thereafter, on 15 September, 15 December, 15 March and 15 June of each year to the registered holder, or at his/her request, to any person named by him/her.  At the request of the registered holder, interest as well as the principal amount will be paid to the credit of the account of the beneficiary through the Mauritius Automated Clearing and Settlement System.  Interest on the bond will accrue as from the date of purchase and will cease on the date of its maturity.

  1. Redemption

The bond will be redeemed at par, at the Bank, on the respective maturity dates.  Early redemption will be considered on a case-to-case basis.

  1. Investment Process

The sale of the bond will be effected through banks offering these services and at the counters of the Bank of Mauritius in Port Louis and Rodrigues.  Prospective investors are requested to contact their banks.  Banks shall comply with the provisions of the Financial Intelligence and Anti-Money Laundering Act 2002 and the guidance notes on AML/CFT issued by the Bank.  For purchases made at the Bank of Mauritius, eligible investors will be able to  make their payments either in cash, banker’s cheque, direct debit or through the Mauritius Automated Clearing and Settlement System (MACSS).  However, payment for investments in excess of Rs500,000 made at the Bank should be effected by banker’s cheque, direct debit or MACSS.

  1. Marketability and Register of Bonds and Transfers

The investments will be recorded in Book Entry Form and a statement of account will be issued to holders. The Bond may be traded on the Stock Exchange of Mauritius. The bond will be transferable in multiples of Rs25,000.- and any transfers and/or pledge of the bonds will have to be notified to the Bank of Mauritius.

 

8 March 2018

 

Available as :