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BlueLife completes first issue of Bond Programme to fund projects

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Azuri is one of the key projects in BlueLife's portfolio. Photo credit: www.bluelife.mu

Further to the Cautionary Announcement dated December18, 2020 and communiqués dated 18 January 2021, 07 May 2021 and 25 June 2021, the Board of BlueLife Limited has said it has successfully completed the First Tranche of the Bond Programme, through the issue of: 

  • 506 unsecured convertible redeemable bonds at a price of Rs50,000 per bond for an amount of Rs25.3million, subscribed by the shareholders of BlueLife; 
  • 106 secured convertible redeemable bonds at a price of Rs50,000 per bond for an amount of Rs5.3million, subscribed by the shareholders of BlueLife; 
  • 5,378 secured convertible redeemable bonds at a price of Rs50,000 per bond for an amount of Rs268.9million, by way of private placement to a “sophisticated investor.”

BlueLife said the allotment of the bonds issued under the First Tranche was completed on July 5, 2021. The “sophisticated investor” and the shareholders who have subscribed to the bonds and have a CDS account will have their accounts credited at close of business on July 12, 2021.

Bond certificates in respect of the bonds allotted to shareholders who do not have a CDS account will be issued and sent to them on July 12, 2021. 

The bonds under the First Tranche will start trading on the Official Market of the Stock Exchange of Mauritius (SEM) on July 13, 2021. On the same day, the company will make available 10 bonds (5 of each Series) at an indicative price of Rs50,000 per bond. 

BlueLife is one of the leading real estate companies in the Indian Ocean.

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