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.