ICBC contributes to $1 billion dual tranche syndicated term loan facility with Mauritius Commercial Bank Ltd. for refinancing purposes

Project narrative

On September 9, 2021, a syndicated of banks organized by the London Branch of the Industrial and Commercial Bank of China (ICBC) signed a $1,000,000,000 dual tranche syndicated term (loan) facility agreement with The Mauritius Commercial Bank Ltd. The proceeds of the loan were to be used by the borrower to (a) refinance amounts outstanding under. an $800,000,000 term loan that it signed in March 2019, and (b) for general corporate purposes, including trade finance. The loan consisted of two tranches: 'Tranche A' with a tenor of 2 years (bullet repayment) and 'Tranche B' with a tenor of 3 years (bullet repayment). The Coordinators, Bookrunners, and Mandated Lead Arrangers included Abu Dhabi Commercial Bank, Citi, Intesa Sanpaolo, Mizuho, Standard Chartered Bank, and SMBC BI. The Mandated Lead Arrangers included Bank of Baroda, Commerzbank, Doha Bank, Emirates NBD, First Abu Dhabi Bank, HSBC, ICBC, KfW, MUFG, OPEC Fund, Société Générale, State Bank of India, and Union Bank of India. The Lead Arrangers included AfrAsia, Credit Europe Bank, Gulf Bank, JPMorgan, RAK Bank, Sanlam, and Standard Bank. The Arrangers include Banque Misr, Bank Muscat, BCP Bank, Caixabank, and Invested. Mizuho served as the Facility Agent.