IZAR Ltd was transaction adviser to Forty Two Point Two on a senior secured AAAMU bond issuance of MUR 1.8 billion in GBP and MUR denominated debt with a 4.5yr maturity. The deal offered an attractive spread to investors and gave them exposure to a AAA rated issuer that has built a resilient funding platform in Mauritius. Guided by IZAR’s debt capital markets team, Forty Two Point Two has built strong relationships with the investment community in Mauritius, and international banks in Africa. The transaction was 2.5x oversubscribed.
The issuer is rated AAAMU by GCR Ratings and some tranches of the debt were structured to be listed on the Stock Exchange of Mauritius to cater to the requirements of the investor community.