MCB supports Singapore-based Tolaram’s growth strategy with USD 51 million financing solution

MCB supported Tolaram through the provision of a USD 51 million Medium-Term Loan facility, enabling the partial refinancing of an existing facility. The transition to a longer-term financing structure allowed Tolaram to better align its funding profile with its strategic growth ambitions and long-term business objectives.

MCB structured and delivered a financing solution to refinance the existing facility related to Tolaram’s previously completed acquisition of Guinness Nigeria Plc. The facility was supported by a tailored covenant package that provided financial flexibility while supporting sustainable growth and long-term value creation.

Tolaram is a privately held multinational enterprise headquartered in Singapore, with a legacy spanning more than 78 years. Founded in Indonesia in 1948 as a textile retail business, the Group has grown into a diversified global organisation with operations across Africa, Asia, the Middle East and Europe. Today, Tolaram is recognised as one of Africa’s leading business groups, with strategic investments across:

• Consumer Packaged Goods (CPG)
• Financial Technology (Fintech)
• Infrastructure and Industrial Development

Through its investments, Tolaram continues to strengthen local value chains, support economic development and contribute to sustainable growth across the African continent.

According to Rahul Somani, Group CFO, Tolaram: “MCB played an important role in refinancing short term loan and structuring it to the long-term tenure, Tolaram is highly impressed with the professional and pragmatic approach and with solution finding attitude of the MCB team. The team helped to conclude a refinancing deal (partly) in a short span of time and set a firm tone to the new relationship – not only between MCB and Tolaram but also between Africa – Asia corridor. Both sides were keen to ensure it’s a win – win transaction and long-term commitment which guided the solution finding attitude to come out with tailor made covenants ensuring that any risks are mitigated. Marking the beginning of a long relation.”This landmark transaction  represents an important milestone in the Bank’s continued expansion across key African markets.

The deal also reflects MCB’s Asia-to-Africa corridor strategy, which focuses on facilitating trade, investment and capital flows between Asian and African markets. By providing an integrated suite of solutions encompassing trade finance, foreign exchange, cash management, lending and advisory services, MCB enables clients to capture growth opportunities across both regions while strengthening connectivity between these dynamic markets.

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