The Mauritius Commercial Bank Limited (“MCB”) has successfully closed its inaugural GCC and India focused Syndicated Term Loan of USD450m. The transaction marks a key milestone in MCB’s funding strategy, further diversifying its international lender base and expanding relationships in key global markets. 

The facility was initially launched at USD 300M and received strong support from the market, attracting commitments from 25 banks, including 5 new lending institutions, alongside MCB’s established relationship lenders. The transaction was oversubscribed by approximately 2.1x, enabling MCB to upsize the facility to USD450m, reflecting robust investor appetite and confidence in the Bank’s credit fundamentals.

Structured as a two-year term loan with a one-year extension option at the borrower’s discretion (2+1), the facility provides enhanced funding flexibility. The strong market response allowed MCB to secure more competitive pricing, resulting in a lower overall cost of funding.

Proceeds from the facility will be used for general corporate purposes, supporting MCB’s continued growth strategy in Mauritius and across the African region.

Anbar Jowaheer, Group Head of Strategic Funding, MCB: “The successful completion of this syndication, with the participation of new lenders, reinforces the momentum of MCB’s funding programme and underscores the bank’s continued attractiveness to international lenders. 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, Chief Executive Officer of MCB Ltd, commented:
“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.

We are also honoured to have been recognised by GBM, with MCB’s USD 350 million Asian-focused two-tranche loan syndication named the Africa 2026 Financial Institutions Syndicated Loan Deal of the Year. This distinction underscores the bank’s strength and its continued commitment to maintaining a robust and diversified funding momentum.”

 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 and State Bank of India, London Branch acted as Coordinators and Bookrunners for the Facility. 

Anchored on more than 187 years of accomplishments, The Mauritius Commercial Bank Limited (“MCB”) is the leading bank in Mauritius and the main entity of MCB Group. Over the years, MCB’s diversification strategy has ensured it becomes an increasingly prominent financial services player in the region. Backed by a large shareholder base of local and foreign investors and the highest market capitalisation on the local Stock Exchange, the Group wields a sound business model, which has enabled it to successfully tap into the potential of non-banking financial services, whilst consolidating its domestic banking operations and expanding beyond local shores. Today, MCB offers a wide array of financial solutions, including retail, business and corporate banking, factoring, leasing, global business, wealth management and investment products. MCB is also a regional bank with a widening international foothold and presence spanning to Madagascar, Maldives and Seychelles through dedicated subsidiaries, as well as Réunion, Mayotte, France, South Africa, Kenya, Dubai and Nigeria via its associates and representative offices. The Group also has a strong commitment towards having a positive economic, social, environmental and cultural impact in the long run.