The Mauritius Commercial Bank Ltd (MCB) has successfully closed its first dual tranche Asia-focused syndicated term loan, raising USD 350 million. Initially launched at USD 300 million, the facility was met with overwhelming demand, being oversubscribed twice by a total of 20 participating banks, enabling MCB to increase the facility size to USD 350 million. The proceeds will be used for general corporate purposes.
This landmark transaction, which includes MCB’s debut 5-year syndicated loan launched exclusively to Asian lenders, underscores the strong confidence international lenders place in MCB’s creditworthiness and growth strategy. The syndication process included an extensive physical roadshow across key Asian financial hubs—Hong Kong, Beijing, Shanghai, Taipei, and Seoul—and attracted significant interest from lenders in these regions as well as from India. Notably, several participating banks are first-time lenders to MCB, marking a significant diversification of the bank’s lender base. This strategic move has enabled MCB to substantially reduce its borrowing costs while expanding its presence in Asia.
Anbar Jowaheer, head of financial institutions and syndication at MCB, highlighted the importance of the transaction:
“This new facility continues the success of MCB’s funding program aimed at diversifying its funding sources through new markets. The significant participation in the 5-year tranche underscores the trust of international investors in MCB’s strategy.”
Echoing this sentiment, Thierry Hebraud, CEO of MCB Ltd, commented on the broader strategic significance:
“Expanding our investor base to Asian lenders marks a significant milestone for MCB, particularly in view of the Asia–Africa corridor of the Mauritius IFC. This facility is a testimony to the global investor confidence placed in MCB’s strategy, its investment-grade ratings, and its growth potential.”
The facility was coordinated by a consortium of leading global financial institutions. Industrial and Commercial Bank of China Limited (London Branch), Mizuho Bank, Ltd., and Standard Chartered acted as bookrunners, initial mandated lead arrangers, and roadshow coordinators.
About MCB
Founded in 1838, the Mauritius Commercial Bank Ltd (MCB) is the leading financial institution in Mauritius and the flagship entity of the MCB Group. With a history spanning over 186 years, MCB has established itself as a regional financial powerhouse, boasting the highest market capitalisation on the local Stock Exchange and a broad shareholder base of local and international investors.
MCB’s diversification strategy has propelled its expansion beyond traditional banking services into areas such as factoring, leasing, global business, wealth management, and investment solutions. The bank’s operations extend beyond Mauritius, with subsidiaries in Madagascar, Maldives, and Seychelles, and representative offices and associates in Réunion, Mayotte, France, South Africa, Kenya, Dubai, and Nigeria.
Committed to fostering long-term positive economic, social, environmental, and cultural impacts, MCB continues to strengthen its role in promoting regional economic integration and global investor confidence, positioning itself as a key player in the Asia–Africa trade corridor.
For more information, visit: www.mcb.mu
