The Bank of Mauritius will, on Wednesday 23 March 2011, sell through auction, Government of Mauritius Treasury Notes (GMTN), for a nominal amount of Rs1,200 million, with maturities of 2, 3 and 4 years bearing interest at the rate of 4.50, 4.75 and 5.00 per cent per annum respectively. In the event of oversubscription, the Bank may accept bids for amounts higher than Rs1,200 million or issue at the weighted accepted yield for each maturity of GMTN, Bank of Mauritius Notes to bidders who are willing to so accept.
The Bank will receive bids for this auction on the same day, i.e Wednesday 23 March 2011 on a yield basis quoted to two decimal places, in multiples of Rs100,000, on tender forms which are obtainable at its seat or on its website at http://bom.intnet.mu. Bidders may submit, for their own account and for GMTN of each maturity, up to a maximum of five bids, one for each bid yield, which, however, should not exceed the tender amount in the aggregate. Bidders may also submit bids for the account of each of their customers on the same conditions. Applications received after the prescribed time and date will not be considered.
The completed tender form/s should be placed in a sealed envelope marked “Tender for 2-Year GMTN”, “Tender for 3-Year GMTN” or “Tender for 4-Year GMTN”, as the case may be and should be deposited in the tender box at the Banking Hall of the Bank of Mauritius Tower, Cr Royal & Bourbon Streets, Port Louis, before 10.00 a.m. on Wednesday 23 March 2011. Banks may submit their bids through the Reuters Dealing system.
Results of the auction will be announced on the same day and successful bidders will be required to effect payment of the cost price of the GMTN/ Bank of Mauritius Notes through the Mauritius Automated Clearing and Settlement System, at latest by 11.00 a.m. on Friday 25 March 2011.