The Mauritius Commercial Bank Ltd successfully closes its USD 500 million Syndicated Term Loan Facility

The Mauritius Commercial Bank Ltd (“MCB”) is pleased to announce the signing of a three-year USD 500 million syndicated loan. The deal was exceptionally well supported in the market and attracted commitments from investors globally with continued endorsements from GCC, Europe and US, and interest from Asia.

Commitments exceeded USD 1 billion, with an oversubscription of 2.2x showcasing investors’ appetite on MCB’s credit worthiness, thereby leading to significant scale-back. The Facility was circled by 25 investors, comprising existing core lenders and seven new original lenders, reflecting MCB’s strong appeal to international investors.

This latest transaction bears testimony to MCB’s attractiveness for its robust credit profile and growth strategy while pursuing its journey to tap capital markets for its funding requirements. Commenting on the deal, Alain Law Min, Chief Executive Officer (“CEO”), MCB Ltd: “After our successful debut Eurobond issuance last May, the success of the syndicated loan demonstrates the support of international markets to MCB.

Despite the current challenging environment, MCB has managed to tighten its pricing on this deal by leveraging its investment grade status and its investor network. As MCB pursues its strategic endeavours in Africa, we thank our investors for their renewed confidence in MCB, and we look forward to our ongoing engagement.”

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”), acted as Coordinators and Bookrunners on the transaction.

Posted by on Jun 8 2023. Filed under Economie. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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