The Mauritius Commercial Bank (MCB) closed its inaugural GCC and India-focused syndicated term loan facility, raising $450 million.
Originally launched at $300 million, the facility attracted strong demand, securing commitments from 25 banks, including five new lenders alongside existing relationship banks. Oversubscribed by approximately 2.1 times, the transaction was upsized to $450 million.
Structured as a two-year term loan with a one-year extension option at the borrower’s discretion (2+1), the facility enhances funding flexibility and optimizes MCB’s maturity profile. Strong market support also enabled improved pricing, reducing the overall cost of funding.
Proceeds will be used for general corporate purposes, supporting MCB’s continued growth in Mauritius and across the African region.
“The successful completion of this syndication, with the participation of new lenders, reinforces the momentum of MCB’s funding program and underscores the bank’s continued attractiveness to international lenders,” Anbar Jowaheer, group head of strategic funding at MCB, said. “This transaction is consistent with our strong pipeline and further strengthens funding flexibility through a well-structured tenor profile, supporting disciplined balance sheet management.”
Thierry Hebraud, CEO of MCB, added, “The strong oversubscription of this facility by GCC and Indian banks clearly reflects the sustained confidence investors place in MCB’s strategy and long-term growth ambitions. Building on our solid credit rating, we have achieved meaningful progress in further broadening and diversifying our funding base.”
Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital, First Abu Dhabi Bank PJSC, Mashreqbank PSC, Mizuho Bank, SMBC Bank International PLC, Standard Chartered and State Bank of India (London branch) acted as coordinators and bookrunners.
