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Prospectus: Re-Opening of 3.65% Benchmark Five-Year Government of Mauritius Bonds

On 21  October 2016, the Bank of Mauritius issued 3.65% Benchmark Five-Year Government of Mauritius Bonds maturing on 21 October 2021, for a nominal amount of Rs1,600 million through an auction held on 19 October 2016. The auction was re-opened on 07 December 2016 and a nominal amount of Rs1,600 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 3.65% Benchmark Five-Year Government of Mauritius Bonds maturing on 21 October 2021 through an auction to be held on Wednesday 11 January 2017, for a nominal amount of Rs2,000 million for settlement on Friday 13 January 2017.

 

3. The Bank will receive bids for this auction on the same day, i.e. Wednesday 11 January 2017 on a yield basis quoted to two decimal places, in multiples of Rs100,000, on tender forms which are obtainable at its seat or on its website. Bidders 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. 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 bid.

 

4. Applications from individuals and non-financial institutions should be made through banks or licensed stockbrokers offering these services. Individuals may submit applications in their own names or jointly with another individual. Minors must, however, be represented by a legal guardian. Individuals must produce their National Identity Cards and a Utility Bill, e.g CWA, CEB, telephone bills etc., as proof of address.  In case of minors, the original of their birth certificates should be produced.

 

5. The completed tender form/s should be placed in a sealed envelope marked “Tender for 3.65% Benchmark Five-Year Government of Mauritius Bonds (Re-Opening)” and should be 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 Wednesday 11 January 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 required to collect their letter of acceptance from the Bank and 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 13 January 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 13 January 2017 and will mature and be redeemed at par by the Bank of Mauritius on 21 October 2021. 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 21 April and 21 October by the Bank during the currency of the Bonds to the bank account of the registered bondholder(s) or any other person authorised by the bondholder(s). Interest will accrue on the Bonds as from 21 October 2016 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 21 October 2016 to 12 January 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.

04 January 2017