IZAR Ltd was transaction adviser to CIM Financial Services Ltd on a green bond issuance of MUR 1.5 billion in senior unsecured debt. The deal was closed at an attractive spread for the issuer and was also upsized from an original MUR 1 billion to capitalise on the oversubscription from investors who were attracted to the green credential of this issuer.
The issuer is rated AA and the bonds were listed on the Stock Exchange of Mauritius post issuance. This is the largest green bond issuance in Mauritius and the first one to be listed on the Stock Exchange of Mauritius.