The financing, which was provided by Vantage Capital, a provider of Mezzanine capital based in South Africa, will be used to finance the initial infrastructure development work of the Cap Tamarin Smart City project located on the West coast of Mauritius.

Founded in 1998 in Mauritius, Trimetys is a family owned group of companies which has as its core values, sustainable, profitable and long term development of its land bank with a strong focus on eco-friendly, socially inclusive and innovative developments. The group is organised in four business lines namely agro industry, real estate development, hospitality & leisure and education, and has approximately 300 employees.

The Cap Tamarin project is located on over 400,000 m2 of prime land at the entrance of Tamarin, a five minute walk from the public beach. It will provide an ideal environment for its residents to ‘work, live and play’ in a sustainability conscious, eco-friendly and technology driven environment. The project will include apartments and lofts, a creation hub including workshops and schools, healthcare facilities, a boutique and apart hotels, senior housing and urban villas, green parks and open spaces.

Georges Talbotier, Chief Executive Officer of Trimetys, commented:
“We are delighted to have completed this financing round which will help accelerate the construction of our Smart City. We entrusted MCB Capital Markets with the challenge of finding a financing solution that would preserve equity value for Trimetys. They proposed a mezzanine option that was appealing and a partner with an unparalleled track record in this area. We are thankful to the MCB Capital Markets team for their advice and commitment to this transaction.”

Rony Lam, Chief Executive Officer of MCB Capital Markets, commented:
“We are proud to be acting as Transaction Advisor to Trimetys on this innovative financing transaction. This will allow Cap Tamarin to proceed with the development of its Smart City with the support of a strong and experienced partner. I would like to thank our client for their trust and our team, led by Neermal Shimadry, for having relentlessly worked to implement this innovative solution.”

Werksmans Attorneys and BLC Robert & Associates acted as legal advisor to Vantage Capital in South Africa and Mauritius respectively.