Ciel Group Issues Rs 1.7 Billion in Bonds to Fund Eco-Friendly Projects

Ciel Group has entered the capital markets with a significant fundraising initiative to finance environmentally friendly projects. The company, a major player in the Mauritian economy, is issuing 1.45 million conventional bonds and 250,000 green bonds to raise a total of Rs 1.7 billion.

The move, announced in a statement on the Stock Exchange of Mauritius website on September 9, is part of Ciel’s broader sustainable financing strategy.

The company is aiming to mobilise funds to accelerate its ecological transition and embed a growth model that safeguards the needs of future generations.

The green bonds issued by Ciel are aligned with the principles set by the International Capital Market Association (ICMA).

The ICMA has spent over half a century establishing rules and recommendations to structure international capital and securities markets.

Their principles encourage issuers to exclusively finance sustainable projects that contribute to a net-zero-emission economy while protecting the environment.

These standards come with two key requirements: transparency regarding the use of funds and ongoing monitoring and reporting to measure the projects’ environmental impact.

By adhering to this framework, Ciel aims to boost the credibility of its green bonds and appeal to investors who are focused on climate change issues.

This initiative not only solidifies Ciel’s commitment to leading the ecological transformation of the Mauritian economic landscape but also signals a growing openness in the local market to sustainable financial instruments, mirroring a global trend in which green finance is becoming increasingly important.

Source: l’Express