MCB raises USD 800 million through a syndicated term loan facility

Mauritius Commercial Bank Ltd (MCB) successfully drew USD 800 million syndicated loan from Europe, Middle East and Asia focused lenders. Standard Chartered Bank (SCB) and Sumitomo Mitsui Banking Corporation Europe Limited (SMBC) acted as lead arranger for this facility. Initially targeting USD 500 million, the offer was oversubscribed to exceed USD 1 billion. Commenting on the syndication, Raoul Gufflet, Deputy Chief Executive, MCB, said:

“We are very pleased of the keen market interest attracted by this syndication, and the support from a wide pool of lenders spanning Europe, the Middle East and Asia. It testifies of the international recognition of MCB’s investment-grade credit worthiness and confidence in the bank’s strong fundamentals and international growth prospects.”

Mr. Gufflet added that this syndicated term loan would provide support to MCB “in optimising and diversifying its funding profile further, whilst executing on the delivery of its domestic and African ambitions.”