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).