MCB Secures Rs18 billion syndicated loan facility

The MCB group has secured a Sustainability Linked Syndicated Loan (SLSL) worth $400 million (Rs18 billion).

This facility marks MCB’s first sustainable-linked loan and is structured as a two-year loan to be used for the group’s general requirements.

The launch of the $400 million operation was well received in the syndicated loan market, with commitments amounting to $849 million, oversubscribed by 1.12 times.

All investors were reportedly scaled back from their initial commitments.

The deal attracted 24 banks and investors from Europe, the Middle East, and Asia.

Abu Dhabi Commercial Bank PJSC, Citi, First Abu Dhabi Bank, Intesa Sanpaolo, Mizuho Bank, Standard Chartered Bank, SMBC Bank International, and Société Générale acted as Coordinators and Bookrunners.

Standard Chartered Bank International and Société Générale also operated as Sustainability Coordinators.

Source: Le Mauricien