MCB signs three-year Rs22 billion syndicated loan

The Mauritius Commercial Bank Ltd (MCB) has successfully signed a three-year syndicated loan worth USD 500 million (Approx. Rs22 billion).

The deal reportedly received strong support from the market, attracting commitments from investors worldwide, particularly in the GCC, Europe, US, and Asia. The total commitments exceeded USD 1 billion.

The syndicated loan was reportedly oversubscribed by 2.2 times, leading to significant scale-back.

The facility involved the participation of 25 investors, including existing core lenders and seven new original lenders.

Alain Law Min, CEO of MCB Ltd, expressed gratitude for the support of international markets, emphasising MCB’s ability to tighten pricing on the deal due to its investment-grade status and investor network.

The syndicated loan was coordinated and bookrun by Abu Dhabi Commercial Bank PJSC (ADCB), Emirates NBD Capital Limited (EMCAP), First Abu Dhabi Bank PJSC (FAB), The Hongkong and Shanghai Banking Corporation Limited (HSBC), Industrial and Commercial Bank of China Limited, London Branch (ICBC), Mizuho Bank, Ltd. (Mizuho), Standard Chartered Bank (SCB), and SMBC Bank International plc (SMBC).

Source: MCB