On 23 December 2021, the Financial Services Commission (‘FSC’) published the Guidelines for Issue of Corporate and Green Bonds in Mauritius (‘Guidelines’). The purpose of the Guidelines is to supplement the Guide for the Issue of Sustainable Bonds in Mauritius issued by the Bank of Mauritius in June 2021 (‘BOM Guide’) by elaborating on various regulatory requirements to be adopted by the issuers of ‘Green Bonds’ in line with international best practices and the Guidelines go further by also regulating the issuance of corporate bonds which do not have a ‘green’ element.
Following the issuance of the Guidelines, some reservations emerged on certain provisions of the Guidelines, particularly on corporate bonds, which were viewed as constraining and restricting the ability of potential issuers to fundraise in certain circumstances. The FSC took swift actions by taking onboard the propositions of stakeholders and issuing amended Guidelines on 18 April 2022.
Read the full article at BLC Robert.