MCB secures $450 million syndicated loan in landmark GCC and India debut

Mauritius Commercial Bank Limited (MCB), the flagship banking arm of MCB Group, has successfully closed a $450 million syndicated term loan facility, marking a major milestone in its international funding strategy and deepening its ties with lenders in the Gulf Cooperation Council (GCC) region and India.

Strengthening funding flexibility
Initially launched at $300 million, the facility drew strong demand from global banks, attracting commitments from 25 lenders, including five new institutions. The transaction was oversubscribed by about 2.1 times, enabling MCB to upsize the loan to $450 million, underscoring robust investor confidence in the bank’s credit profile and long-term strategy.

Structured as a two-year term loan with a one-year extension option (2+1), the facility enhances MCB’s funding flexibility while securing more competitive pricing due to strong market appetite. Proceeds will be used for general corporate purposes, supporting the bank’s expansion plans in Mauritius and across Africa.

Anbar Jowaheer, Group Head of Strategic Funding at MCB, said the successful syndication reinforces momentum in the bank’s funding programme and broadens its international lender base. “This transaction strengthens our tenor profile and supports disciplined balance sheet management,” he noted.

CEO Thierry Hebraud added that the oversubscription from GCC and Indian banks reflects sustained confidence in MCB’s growth ambitions. He highlighted the bank’s recent recognition by Global Banking & Markets (GBM), which named its $350 million Asian-focused two-tranche loan the Africa 2026 Financial Institutions Syndicated Loan Deal of the Year.

Global banking support
The facility was coordinated and bookrun by a consortium of leading international banks, including Abu Dhabi Commercial Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreqbank, Mizuho Bank, SMBC Bank International, Standard Chartered and State Bank of India (London Branch).

Founded more than 187 years ago, MCB is the leading bank in Mauritius, offering retail, corporate and investment banking services, alongside regional operations spanning Madagascar, Maldives, Seychelles, Réunion, South Africa, Kenya, Dubai and Nigeria. The latest syndication reinforces its position as a diversified regional financial powerhouse with growing international reach.