MCB Secures $450 Million following Massive Investor Demand

Mauritius Commercial Bank (MCB) has successfully closed a $450 million syndicated term loan facility, significantly upsized from its original $300 million target due to overwhelming market interest.

The transaction, which targeted markets in the Gulf Cooperation Council (GCC) and India, was oversubscribed by approximately 2.1 times.

This strong appetite from the international investment community allowed the bank to increase the final facility amount to $450 million (approximately 20 billion rupees), reflecting robust confidence in MCB’s credit fundamentals.

Strategic Expansion and Global Relations

The deal marks a pivotal moment in MCB’s funding strategy, successfully diversifying its international lender base.

The facility attracted commitments from 25 banks, including five new lending institutions that joined the bank’s long-standing “Relationship Lenders.”

The funds are earmarked for General Corporate Purposes, specifically to bolster MCB’s ongoing growth strategy within Mauritius and across the African region.

Terms and Competitive Pricing

Structured as a two-year term loan with an optional one-year extension (2+1) at the borrower’s discretion, the facility provides the bank with enhanced financial flexibility.

Due to the high level of market support, MCB secured more competitive pricing, resulting in a lower overall cost of funding.

The syndication was managed by a consortium of high-profile coordinators and bookrunners, including:

• 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
• State Bank of India (London Branch)

Leadership Perspectives

Anbar Jowaheer, Group Head of Strategic Funding at MCB, noted that the transaction aligns with the bank’s “strong pipeline” and strengthens funding flexibility through a “well-structured tenor profile,” supporting disciplined balance sheet management.

Thierry Hébraud, CEO of MCB Ltd, highlighted the progress made in broadening the bank’s funding base. He also referenced the bank’s recent industry accolades:

“We are also honoured to have been recognised by GBM, with MCB’s $350 million Asian-focused two-tranche loan syndication named the Africa 2026 Financial Institutions Syndicated Loan Deal of the Year.”

This distinction, according to Mr Hébraud, underscores the bank’s strength and its commitment to maintaining a robust and diversified funding momentum.

Source: Le Mauricien