United Basalt Products LTD: Bond Issuance In The Study

7 years, 6 months ago - September 05, 2013
United Basalt Products Ltd., one of the largest operators in the construction industry - listed on the official market of the Stock Exchange - plans to launch a bond issue in the form of private placements. Moreover, Bluelife Ltd and IOREC have a merger.

The company United Basalt Products Ltd. announced its intention to launch a bond issue , which would take the form of private placements. Management believes that these obligations may be issued in one or more tranches , however, is keeping to specify the amount of time it would seek to investors. However, she explained that the bond issue would be in the context of the political restructuring of existing debt , including the recovery of unsecured short-term loans and a portion of the financial facilities obtained from various banking institutions.
The direction of UBP is currently finalizing the terms and conditions of this bond before seeking the approval of securities regulators. The company will keep the investing public informed of future developments regarding this issue .Another company, Bluelife Limited , listed on the second stock market, the Development and Enterprise Market ( DEM) , studying for his part the possibility of a merger with the Indian Ocean Real Estate Company Ltd. ( IOREC ) , another company involved in real estate development and recreation, and also has a strong expertise in the management of real estate.
This merger , says it does in the media Bluelife Ltd, contribute to the consolidation of the company's assets and the available IOREC in High Bank Holding to lead to the creation of a " property holding company with a strong and diversified asset Creating base in view of Shareholders ' value . "Bluelife Ltd. was formerly known as FUEL Properties Ltd prior to the merger between the sugar groups FUEL and Deep River Beau Champ . FUEL Properties and IOREC are each 50% shareholders in High River Holding, has launched a major project built village called Azuri . The project, which covers more than 40 acres , must be completed by the end of the year.
It involves the construction of apartments, a hotel complex of shops, restaurants, a school and a recreation area .In addition , Gamma Civic Ltd. has not made ??any purchases of its own listed on the official market of the Stock Exchange securities , in accordance with a decision adopted by the Board of Directors of the Company in March 2013. The direction of Gamma Civic recently announced that there was no monthly interventions for the redemption of 6,662,500 shares at a price considered one rupee unit .
The subscribed capital of the company remained at Rs 133.2 million at August 30.However, CIEL Investment Ltd , a company whose shares are listed on the DEM , conducted last month the purchase of 188,800 of its securities under a " share buy- back " announced in January 2013 , bringing the total shares to 5,785,357 . In the direction of SKY Investment , there are still about 44.5 million "ordinary" shares to be redeemed . CIEL Investment capital stood at Rs 1.8 billion in late August.

Text by Le Mauricien

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