CIEL Limited has completed Africa's inaugural issuance of Sustainability-Linked Bonds, raising MUR 1.45 billion to enhance its commitment to sustainability while attracting international investment.

Target Information

CIEL Limited is a diversified investment holding company based in Mauritius, specializing in various sectors including textile, finance, healthcare, hotels & resorts, property, and agro-industries. On September 18, 2025, CIEL made headlines by successfully issuing Africa's first Sustainability-Linked Bonds (SLB) valued at MUR 1.45 billion (approximately USD 31 million). This issuance places CIEL at the forefront of sustainable finance in the region, reinforcing its commitment to socially responsible initiatives such as women's empowerment, reducing carbon emissions, and minimizing water usage.

The bond issuance not only demonstrates CIEL's dedication to its sustainability objectives but also aims to align its six business clusters with its performance in sustainability. The SLB was significantly oversubscribed, achieving a 1.5x ratio, which is indicative of investor confidence in CIEL's strategic vision and sustainability agenda. Furthermore, this SLB represents about 13% of the total outstanding SLBs in Africa, marking a notable milestone in Mauritius's capital markets.

Industry Overview in Mauritius

The Mauritian capital market has evolved substantially over the past decade, with approximately MUR 125 billion (around USD 3 billion) in outstanding corporate bonds currently available. This growth reflects a reliable source of liquidity for issuers, further en