- CIPF published its first accounts for the period ended 31 March 2017, Notice, 09 May 2017
- CIPF announces the listing of its 10 years bond on the Stock Exchange of Mauritius, Communique, 15 March 2017
- CIPF, Listing Particulars for Rs 560 million bond, 15 March 2017
- CIPF raised Rs 560 million on the bond market through a private placement, Communique, 12 January 2017
CIPF Junior Notes
CIPF Senior Notes
|Property portfolio value||Rs 647m|
|Secured floating rate notes||Rs 560m|
|Interest junior tranche (% p.a.)||6.5%|
|Interest senior tranche (% p.a.)||5.5%|
|Number of years of leases with tenants||20 years|
Commercial Investment Property Fund (“CIPF”), subsidiary of ENL Commercial, is a property fund owning fully leased out commercial and industrial assets in Mauritius.
CIPF has issued MUR 560 million secured floating rate notes with a ten-year tenor in January 2017, through a private placement. The proceeds were utilised to finance the acquisition of tenanted properties from ENL Commercial Limited and its subsidiaries.
The Notes comprise 4,000 senior tranche Notes with a nominal value of MUR 100,000 each and 160,000 junior tranche Notes with a nominal value of MUR 1,000 each. The senior tranche has an annual floating rate coupon of Repo rate + 2 %, currently at 5.5 %, and the junior tranche at Repo rate + 3 %, currently at 6.5%. The senior tranche of the Notes has been assigned an investment grade rating of CARE MAU A- (SO) by Care Ratings.