Mauritius: bonds

The Mauritian economy has remained resilient in spite of the recession in the euro area that has weakened its external demand. At 3.3% in 2012, the real GDP growth rate remained positive although it continues to ease after growth rates of 3.8% and 4.2% in 2011 and 2010 respectively. On the fiscal front, Moody’s Investors Service upgraded the government bond ratings of Mauritius to Baa1 from Baa2 on the back of sound macroeconomic management. Although Mauritius moved five places from the 2012 ranking of 24 to 19 out of 185 economies in 2012, in the World Bank report Doing Business 2012, it still holds the highest position among African countries.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
MUR 107 198 717 800 000
corporate
MUR 18 12 409 631 240
USD 8 3 400 000 000
SEK 5 4 150 000 000
EUR 1 2 530 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Mauritius, 15Y FRN 7apr2032 - Domestic bonds MU0GBDA04328 12-month average inflation rate + 3.48% (12-month average inflation rate published by Statistics Mauritius as at end-February, every year) 600 000 000  MUR 04/05/2017 04/07/2032
Bayport Management, 11% 24sep2019, SEK - Domestic bonds SE0009723075 11% 1 100 000 000  SEK 03/20/2017 09/24/2019
Mauritius, 20Y 6.24 17mar2037 - Domestic bonds MU0GBDA04229 6.24% 1 900 000 000  MUR 03/15/2017 03/17/2037
Mauritius, 3Y 2.9 17feb2020 - Domestic bonds MU0GNTA04097 2.9% 7 200 000 000  MUR 02/15/2017 02/17/2020
Mauritius, 5Y 3.25 10feb2022 - Domestic bonds MU0GBDA04054 3.25% 1 800 000 000  MUR 02/08/2017 02/10/2022
Mauritius, 4Y 3.14 31jan2021 - Domestic bonds MU0BNTA04015 3.14% 3 525 000 000  MUR 01/30/2017 01/31/2021
Mauritius, 10Y 4.94 20jan2027 - Domestic bonds 4.94% 2 000 000 000  MUR 01/18/2017 01/20/2027
Mauritius, 10Y 5 18nov2026 - Domestic bonds MU0GBDA03668 5% 1 400 000 000  MUR 11/16/2016 11/18/2026
Mauritius, 3Y 3.15 28oct2019 - Domestic bonds MU0GNTA03560 3.15% 5 690 000 000  MUR 10/26/2016 10/28/2019
Mauritius, 5Y 3.65 21oct2021 - Domestic bonds MU0GBDA03528 3.65% 3 600 000 000  MUR 10/19/2016 10/21/2021

World Bond market statistics

Quarterly indices

Type IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015 II 2015
BIS volume of international-bond market of emerging countries
Mauritian international bonds, USD bln 3.300 2.300 2.000 2.000 2.000 2.400 2.400
BIS net issues of international-bond market of emerging countries
International-bond net issue of Mauritius, USD bln 1.000 0.300 0.000 0.000 -0.400 0.000 0.000

Currencies

Daily indices

Type: 04/21/2017 04/20/2017 04/19/2017 04/18/2017 04/17/2017 04/14/2017 04/13/2017
Exchange Rates (Emerging Markets)
USD/MUR 35.2243 35.3497 35.2748 35.1997 35.2755 35.3838 35.3663
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Macroeconomic Indicators (World economy)

Monthly indices

Type Mar 2017 Feb 2017 Jan 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Mauritius) 1.30 1.30 1.80
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Yearly indices

Type 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Mauritius) 61.60 60.10

Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Bayport Management, 12% 23oct2018, SEK   SEK 10/23/2018 05/18/2016 **.** **.** 05/18/2016 **.** **.**
Bayport Management, 13% 12jun2017, SEK   SEK 06/12/2017 05/18/2016 *** **.** 05/18/2016 *** **.**
Bayport Management, 14% 17nov2019, SEK   SEK 11/17/2019 05/18/2016 **.* **.** 05/18/2016 **.* **.**
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