Newsroom

MCB launches its inaugural USD 300 million notes issuance on the London Stock Exchange

Apr 20, 2023, 05:00 AM by User Not Found

On Wednesday 19 April 2023, The Mauritius Commercial Bank Limited (“MCB”) successfully launched and priced its inaugural USD 300 million 5-year senior unsecured notes issuance (the “Notes”) under its USD 3 billion Global Medium Term Note Programme (the “Programme”).

This Programme, rated Baa3 by Moody’s, was established on 28 October 2022 and approved for listing on the International Securities Market of the London Stock Exchange. This landmark transaction is the first-ever bond issuance in the international capital markets by any Mauritian corporate. 
 
These Notes aim at diversifying MCB’s funding sources, with the proceeds used for general corporate purposes and specifically to support its international diversification strategy. These Notes were issued with a coupon of 7.950%, which will be payable semi-annually, and will mature on 26 April 2028. Supported by key Development Finance Institutions (“DFIs”), the offering was oversubscribed with demand from a wide array of investors and was allocated to a global mix of 45 asset managers and financial institutions (35% from the UK and Europe, 36% from sub-Saharan Africa, and 24% from the MENA region and Asia).

Subscribe to Press releases

Stay informed about the latest updates and news by subscribing to our email alerts.
 

Press releases
 

Stay informed about the latest updates and news by subscribing to our email alerts.
 

MCB launches its inaugural USD 300 million notes issuance on the London Stock Exchange

Apr 20, 2023, 05:00 AM by User Not Found

On Wednesday 19 April 2023, The Mauritius Commercial Bank Limited (“MCB”) successfully launched and priced its inaugural USD 300 million 5-year senior unsecured notes issuance (the “Notes”) under its USD 3 billion Global Medium Term Note Programme (the “Programme”).

This Programme, rated Baa3 by Moody’s, was established on 28 October 2022 and approved for listing on the International Securities Market of the London Stock Exchange. This landmark transaction is the first-ever bond issuance in the international capital markets by any Mauritian corporate. 
 
These Notes aim at diversifying MCB’s funding sources, with the proceeds used for general corporate purposes and specifically to support its international diversification strategy. These Notes were issued with a coupon of 7.950%, which will be payable semi-annually, and will mature on 26 April 2028. Supported by key Development Finance Institutions (“DFIs”), the offering was oversubscribed with demand from a wide array of investors and was allocated to a global mix of 45 asset managers and financial institutions (35% from the UK and Europe, 36% from sub-Saharan Africa, and 24% from the MENA region and Asia).

Subscribe to our Email Alerts

Stay up-to-date with our latest releases delivered straight to your inbox.

Contact

Don't hesitate to contact us for additional info

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Email alerts

Keep abreast of our financial updates.