September 8, 2017 / 6:30 AM / 3 months ago

BRIEF-IBL to issue notes for 3 bln rupees after oversubsribed offering

Sept 8 (Reuters) - IBL Ltd:

* FIRST TRANCHE INITIALLY AIMED TO RAISE AN AGGREGATE NOMINAL AMOUNT OF MUR 2.5 BILLION BY TARGETING SOPHISTICATED INVESTORS.

* FIRST TRANCHE INITIALLY AIMED TO RAISE AN AGGREGATE NOMINAL AMOUNT OF MUR 2.5 BILLION BY TARGETING SOPHISTICATED INVESTORS.

* AGGREGATE NOMINAL AMOUNT OF SUBSCRIPTIONS RECEIVED WAS MUR 12.63 BILLION, MAKING NOTE PROGRAMME MOST OVERSUBSCRIBED CORPORATE NOTES ISSUE IN MAURITIUS

* BOARD OF DIRECTORS TO ISSUE NOTES FOR AN AGGREGATE NOMINAL AMOUNT OF MUR 3 BILLION, COMPARED TO THE MUR 2.5 BILLION INITIALLY TARGETED

* PROCEEDS OF THE NOTES WILL BE APPLIED BY IBL TO REFINANCE EXISTING SHORT-TERM BANKING FACILITIES Link to press release: bit.ly/2eLlvCH Further company coverage:

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