The Mauritius Commercial Bank Limited (“MCB”) has successfully finalized its inaugural Syndicated Term Loan Facility, focusing on the Gulf Cooperation Council (GCC) and India, raising a total of USD 450 million. This significant achievement, announced on February 25, 2026, reinforces MCB”s strategic funding approach, diversifying its international lender base and strengthening ties in vital markets.
Initially set at USD 300 million, the facility garnered overwhelming interest, resulting in commitments from 25 banks, including five new lenders alongside established partners. The strong demand led to an oversubscription of approximately 2.1 times, prompting MCB to upsize the facility to USD 450 million, a clear indicator of the sustained confidence in MCB”s creditworthiness.
This facility, structured as a two-year term loan with an optional one-year extension at the borrower”s discretion (2+1), enhances MCB”s funding options while optimizing its maturity profile. The robust market support also allowed for more favorable pricing, thereby reducing the overall cost of funding.
The proceeds from this loan will be allocated for general corporate purposes, aiding MCB”s ongoing growth within Mauritius and throughout the African region. Anbar Jowaheer, Group Head of Strategic Funding at MCB, noted, “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.” He emphasized that this transaction aligns with MCB”s healthy pipeline and enhances funding flexibility through a well-structured tenor profile, thereby supporting disciplined balance sheet management.
Furthermore, Thierry Hebraud, Chief Executive Officer of MCB Ltd, remarked, “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.” He pointed out that the bank is building on its solid credit rating, making significant strides in broadening and diversifying its funding base.
Key players in this transaction included 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 the State Bank of India, London Branch, all of whom acted as Coordinators and Bookrunners for this successful syndication.
Established over 187 years ago, MCB stands as the leading bank in Mauritius and the primary entity within the MCB Group, which provides retail, corporate, and investment banking services, along with wealth management and global business solutions. The group operates not only in Mauritius but also internationally through subsidiaries, associates, and representative offices across Africa, Europe, and the Middle East.
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