Perigeum Capital Ltd acted as the sole Arranger and Placing Agent for a MUR 1 Billion debt issuance by Investcorp (Holdings) Ltd (“IHL”), an investment holding entity which invests into completed, high quality commercial real estate assets (mainly offices) with blue-chip tenants and contracted rental escalations. As part of this transaction, IHL successfully raised MUR 1.12 Billion (as a result of an oversubscription) through the issue of Fixed Rate Secured Notes (“Notes”) maturing in November 2028, this being yet another landmark deal for Mauritian debt capital markets.

The Notes, which have been assigned a credit rating of ‘CARE MAU BBB+ Stable’ from CARE Ratings (Africa) Private Limited, have been listed on the Official Market of the Stock Exchange of Mauritius Ltd (“SEM”) as from Friday, 12 November 2021. Perigeum Capital also acted as the Transaction Advisor for the listing on the SEM.

Perigeum Capital assisted with the structuring of the terms of the debt issuance to which market participants responded positively. We managed all phases of the project – from initiation, planning, execution, to successful closure which involved the initial scoping of the transaction, structuring of the investment portfolio of IHL, market sounding, preparation of the Preferential Offer Document and Termsheet, liaison with the different functionaries, credit rating agency and investors for the successful issuance of the Notes. While the conceptualization of this transaction involved our full spectrum of transaction execution expertise, we also handled the listing application, drafted the Listing Particulars and liaised with the SEM to ensure the successful listing of the Notes on the Official Market of the SEM.