MCB raises USD350m in Syndicated Loan from Asia

The Mauritius Commercial Bank Ltd successfully closed its first Dual Tranche Asia-focused Syndicated Term Loan of USD350m. Initially launched at USD300m, the facility was very well received and was oversubscribed two times from a total of 20 banks, allowing MCB to upsize the facility to USD350m subsequently. The proceeds of the Facility will be used by MCB for general corporate purposes.

This landmark transaction, which includes MCB’s debut 5-year syndicated loan and launched exclusively to Asian Lenders, is a testament to the confidence placed by international lenders in MCB’s creditworthiness and strategy. The syndication was launched with a physical roadshow in Hong Kong, Beijing, Shanghai, Taipei, and Seoul, generating significant interest from lenders across all these jurisdictions, including India, with a number of these banks being first-time lenders to MCB. With the diversification of its lenders' pool to Asian lenders, MCB has also been successful in substantially tightening its cost of borrowing.