The issuance of bonds by La Prudence Leasing has started off on the best footing with the support of SWAN Capital Solutions, appointed to carry out this transaction. Indeed, the first call for a total amount of Rs 350 million, which ended on February 27th, had a total subscription of Rs 369 million.
La Prudence Leasing’s goal is to raise Rs 700 million to finance its development and diversify its sources of capital. CARE Ratings gave the bonds an A- rating, which sparked great interest from investors, mainly pension funds and institutional investors.
Clément Yue Chi Ming, Managing Director of La Prudence Leasing, says the success of this exercise of the bond issue shows the stability of the company and the trust it inspires in investors. “Through our activities, our goal is to contribute to the country’s economic development. We want to first support companies in the manufacturing and construction sectors to acquire new equipment, essential for their long-term growth. Our role is also to help Mauritians realise their dream of buying a car or other equipment, whether new or second-hand. We thank Swan Capital Solutions for advising and supporting us throughout the entire fundraising process of this first tranche, which will be followed by a second shortly,” highlighted Clément Yue Chi Ming.
“It’s clear today that the bond market has huge potential waiting to be tapped into by companies,” said Alvin Jeeawock, COO of SWAN Capital Solutions, emphasising the attractiveness of this type of financing.
SWAN Capital Solutions is the non-insurance arm of the SWAN group, a leader in the non-banking financial services sector in Mauritius. Launched in April 2022, this umbrella identity brings together under one roof the expertise and services of Swan Wealth Managers Ltd, Swan Global Funds Ltd, Swan Corporate Advisors Ltd, Swan Securities Ltd, Swan Forex Ltd, and the loan department of Swan Life Ltd.
Prudence Leasing is a financial company that has been operating for over 21 years. Holding a licence from the Bank of Mauritius and the Financial Services Commission, it is authorised to accept fixed deposits and offer leasing services to businesses and individuals.