Further to the communiqués dated 3 November 2022 and 23 December 2022, the board of directors (the "Board") of IBL Ltd (the "Company") wishes to inform its shareholders and the public in general of certain changes made to the prospectus dated 28 December 2022 (the "Initial Prospectus") in relation to the offering and listing of up to MUR 3,000,000,000 of secured multi-currency fixed rate notes (the "Notes").
The amendments made to the Initial Prospectus (the "Revised Prospectus"), which are summarized in the table below, relate to (i) the changes made to the tranche reference numbers, (ii) the change made to the interest rate pertaining to one MUR Tranche, (iii) the changes made to the interest payment dates and maturity dates, and (iv) the offering calendar. The amendments are being implemented due to new monetary policy regime announced by the Bank of Mauritius on 13 January 2023. Since this announcement has contributed to higher medium term borrowing costs, the Company has increased the interest rate offered on its 4Y MUR tranche.
Initial Prospectus
Revised Prospectus
FRN-01-MUR-022027
FRN-01-MUR-032027
Tranche Reference Number
FRN-01-MUR-022030
FRN-01-MUR-032030
FRN-01-EUR-022027
FRN-01-EUR-032027
FRN-01-EUR-022030
FRN-01-EUR-032030
Tenor in relation to Tranche
4Y
4Y
FRN-01-MUR-032027
Interest Rate in relation to Tranche
5.25% p.a.
5.60% p.a.
FRN-01-MUR-032027
Interests on the Notes shall be paid
Interests on the Notes shall be paid
quarterly in arrears on the 22 May,
quarterly in arrears on the 9 June,
Interest Payment Frequency and
22 August, 22 November, and 22
9 September, 9 December, and
Interest Payment Dates
February of each calendar year as
9 March of each calendar year as
from the 22 May 2023 and until the
from the 9 June 2023 and until the
relevant Maturity Date
relevant Maturity Date
Offer Start Date
23 December 2022
23 December 2022
Offer End Date
10 February 2023
28 February 2023
Payment Date
By latest 15 February 2023
By latest 6 March 2023
Allotment Date
20 February 2023
8 March 2023
Issue Date
22 February 2023
9 March 2023
Maturity Date
22 February 2027
9 March 2027
Date of Listing and First Trading
22 February 2023
9 March 2023
Prospective investors:
who have already applied for the Notes shall be contacted by their respective investment dealers to confirm their written acceptance of the Revised Prospectus; and
are reminded that any investment decision in relation to the Notes should be based on information made
available in the Revised Prospectus. The Revised Prospectus is available (i) on the Company's website at www. iblgroup.com, and (ii) for inspection at M.C.B. Registry & Securities Ltd. (the Notes' Issuer and Paying Agent) and M.C.B Stockbrokers Limited (the Notes' sponsoring broker), both situated at Sir William Newton Street, Port Louis between 9am to 4pm, on any business day between the Offer Start Date and Offer End Date.
By order of the Board
IBL Management Ltd
Company Secretary
10 February 2023
This
Cautionary Announcement is issued pursuant to the SEM Listing Rule 11.3 and the Securities Act 2005.
The
Board accepts full responsibility for the accuracy of the information contained in this Cautionary Announcement.
BRN : C07001778
iblgroup.com
Attachments
Original Link
Original Document
Permalink
Disclaimer
IBL Ltd. published this content on 10 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2023 12:41:06 UTC.
IBL Ltd is a diversified group organized around 7 areas of activity:
- mass retailing (32.4% of net sales): distribution of consumer products (food, wines and spirits, household goods, personal care products, stationery products, etc.), printing equipment and consumables, pharmaceuticals , medical equipment, chemicals and agrochemicals;
- agri-food (21%): production and processing of sugar cane, production and bottling of beverages, production and processing of fish, etc.;
- engineering and construction (20.6%): manufacturing of building materials, development of diesel and electro-diesel engine repair and maintenance solutions, engineering and construction services for construction and industry sectors, sales of industrial and agricultural machinery, rental, servicing and maintenance of building and handling equipment, ship construction and repair services, etc. ;
- hotel operation (14.8%);
- logistics and transport (4.5%);
- financial services (4.3%): banking, insurance, financing services, investment fund management, investment services, etc.;
- other (2.4%): property, pharmaceutical and cosmetic products research and development services, development of testing and certification solutions, etc.
Net sales break down geographically as follows: Mauritius (83.1%), Madagascar-Comoros-Seychelles-Reunion (7.9%), Maldives (3.9%), Europe (2.3%), the United States (0.1%) and other (2.7%).
IBL LTD 
