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United Docks successfully raises Rs750million via private placements

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United Docks successfully raises Rs750million via private placements

United Docks Ltd has successfully raised Rs750 million under a Note Programme via private placements.

The offer was reportedly oversubscribed and the company has issued secured fixed rate notes over a tenor of 7 years to sophisticated investors.

The company said the proceeds from these Notes will be used to finance the construction of two additional towers forming part of The Docks namely Tower 3 and Tower4.

United Docks said it will now apply for a listing of the Notes on the debt board of the Stock Exchange of Mauritius.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.