OCP Group SA, Casablanca, has announced undertaking a bond issue worth $1.5 billion, according to a Morocco World News report.
The bond comprises two installments with maturities of 10 and 30 years, with respective coupons of 3.750 percent and 5.125 percent. The bonds were listed on the Euronext Dublin.
The aim of the bond issue is to optimize OCP Group’s financial structure by taking advantage of changing market conditions, according to the report, citing OCP Group Chairman and CEO Mostafa Terrab.
The bonds have been placed with qualified institutional investors, fund managers, public and private banks, in several countries, including Morocco, the U.S., and the U.K., as well as more widely in Europe, the Middle East, and Asia.