Morocco has issued a bond on the international financial market totaling US $ 3 billion in three installments, the Moroccan Ministry of Economy, Finance and Administration Reform said on Wednesday in a statement. communicated.
According to the ministry, the first tranche of a seven-year maturity, covering an amount of 750 million dollars, was issued at a spread of 175 basis points (bps) and a price of 99.763% thus offering a rate of yield of 2.412% and serving a coupon of 2.375%.
As for the second tranche, with a maturity of 12 years, it concerns an amount of $ 1 billion. It was issued at a spread of 200bp and a price of 99.570% thus offering a rate of return of 3.043% and serving a coupon of 3%, the ministry said.
As for the third tranche with a 30-year maturity and amounting to $ 1.25 billion, it was issued at a spread of 261 bps and bearing a price of 100%, thus offering a rate of return of 4% and serving a coupon of 4%, according to the release.
This issue, which marked Morocco’s return to the dollar compartment after an absence of seven years, was a resounding success with international investors, of which 478 were served, the ministry said.
It made it possible to renew contact with American investors, to diversify our sources of financing and to establish new references on the Moroccan credit curve, added the ministry.
This issue, which was placed with high-quality investors, in particular fund managers, insurance companies and pension funds, received a favorable reception reflected by a wide geographical distribution, particularly in the United States, the United Kingdom, Europe, Asia and the Middle East, the statement read.
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