Mauritius Commercial Bank Successfully Closes $450 Million Syndicated Loan Facility

Mauritius Commercial Bank's Landmark $450 Million Loan

Mauritius Commercial Bank Limited (MCB) achieved a significant milestone by successfully closing its first-ever syndicated loan facility focused on the Gulf Cooperation Council (GCC) and India. This impressive operation raised $450 million, showcasing MCB's commitment to enhancing its financial strategies and expanding its international lender base.

Initially launched at $300 million, the loan experienced overwhelming demand, attracting commitments from 25 banks—including five new lenders, alongside established banking partners. The transaction's strong performance, with an oversubscription ratio of approximately 2.1 times, allowed MCB to enhance the loan amount to $450 million. This result reflects sustained confidence in the bank's credit fundamentals.

The loan is structured as a two-year facility with an option for a one-year extension at the borrower’s discretion (2+1), providing MCB with increased financing flexibility while optimizing the maturity profile. The robust market backing also enabled MCB to secure improved pricing and reduced overall borrowing costs.

The proceeds from the loan will be utilized for general corporate purposes, thereby supporting MCB's ongoing growth trajectory within Mauritius and across the African continent. Anbar Jowaheer, MCB's Head of Strategic Financing Group, remarked that the successful completion of this syndication, particularly with the involvement of new lenders, reinforces the momentum of MCB's funding program and highlights the ongoing appeal of the bank to international lenders. He stated, "This transaction is aligned with our well-structured portfolio and further strengthens our financing flexibility through a disciplined balance sheet management."

Thierry Hebraud, CEO of MCB Ltd, added that the strong oversubscription by GCC and Indian banks is a clear testament to the enduring trust investors have in MCB’s strategy and long-term growth ambitions. He emphasized that capitalizing on their robust credit ratings has enabled significant progress in expanding and diversifying their funding base.

Major participants in this transaction included Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital Ltd, First Abu Dhabi Bank PJSC, Mashreqbank PSC, Mizuho Bank, Ltd., SMBC Bank International PLC, Standard Chartered, and the State Bank of India’s London branch, all acting as coordinators and managers of the facility.

Established over 187 years ago, MCB stands as the leading bank in Mauritius and is the flagship entity of the MCB Group, which offers retail, corporate, and investment banking, wealth management, and global commercial solutions. The Group operates both in Mauritius and abroad through subsidiaries, partners, and representative offices in Africa, Europe, and the Middle East.

This landmark achievement signifies MCB's steadfast dedication to fostering growth and establishing stronger financial ties globally, ultimately reinforcing its status as a key player in the banking industry.