e Board of directors of IBL Ltd ("IBL") wishes to inform its shareholders and the public in general that ithas approved the issuance of secured MUR and EUR denominated notes (the "Notes") for a maximum aggregate nominal amount of up to MUR 3bn (inclusive of any oversubscription). e Notes' proceeds shall (i) refinance certain IBL's existing debts, and (ii) finance certain strategic investments.
Subject to the relevant regulatory approvals being obtained, IBL shall:
issue the Notes by way of a public offer in accordance with the Securities Act 2005 and the rules, regulations and guidelines made thereunder; and
list the Notes on the Official Market of the Stock Exchange of Mauritius Ltd.
IBL is currently finalizing the terms and conditions of the Notes, the related documentation and the appointment of the relevant service providers.
Shareholders of IBL and the investing public will be kept informed of further developments.
By order of the Board
IBL Management Ltd
Company Secretary
3 November 2022
is Communiqué is issued pursuant to Listing Rule 11.3 and the Securities Act 2005.
e Board of directors of IBL accepts full responsibility for the accuracy of the information contained in this Communiqué.
BRN C07001778
IBLGROUP.COM
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IBL Ltd. published this content on 03 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2022 15:22:06 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 