To set this edition by default, click on: English  | عربي  - Français           
Related Articles :

Morocco Issues $3 Billion Bond on International Financial Market

Source : | 9 December 2020 |  Economy | 339 views

BAM-Bank-Credit-in-Morocco-Increased-by-6.5-in-May-1-238x178.jpg

Morocco has successfully issued a $3 billion bond on the international financial market, with three separate tranches, the Ministry of Economyannouncedon December 9.The first tranche of the bond has a value of $750 million and a maturity of seven years. It has a price of 99.763%, and a rate of return of 2.412%, or a coupon of 2.375%.The bond’s second tranche is worth $1 billion and has a 12-year maturity. The tranche has a price of 99.570%, and a rate of return of 3.043%, or a coupon of 3%.Meanwhile, the third and final tranche has a value of $1.25 billion and a maturity of 30 years. It has a price of 100%, and a rate of return of 4%, or a coupon of 4%.Today’s issuance is the first time Morocco has issued a bond in US dollars in seven years. The Ministry of Economy qualified the issuance as “a great success among international investors.”According to the ministry, the bond enjoyed an order book grossing $13 billion — more than four times its total value — from 478 international investors from the US, the UK, Europe, Asia, and the Middle East.This is the second bond that Morocco has issued during the COVID-19 crisis. In late September, the country issued a €1 billion bond on the international financial market, with two €500 million tranches.The first tranche of the bond issued in September has a maturity of 5.5 years, a price of 99.374%, and a rate of return of 1.495%, or a coupon of 1.375%.The bond’s second tranche has a 10-year maturity, a price of 98.434%, and a rate of return of 2.176%, or a coupon of 2%.The two issuances followed Economy Minister Mohamed Benchaaboun’s “NetRoadshow” with international investors.The minister held a series of meetings with investors from across the world to promote Morocco’s political stability and the resilience of its macroeconomic framework.The meetings also enabled Benchaaboun to inform potential investors of Morocco’s economic and social measures aimed at mitigating the impact of the COVID-19 crisis and reviving the Moroccan economy.

Click www.moroccoworldnews.com/ to read the article from its source.

Related Articles :


   No comments for this article, be the first to comment “ Morocco Issues $3 Billion Bond on International Financial Market”

Post comment









The views expressed in comments reflect the opinions of their posters and not of Marocpress’s

MarocPress TV

Ads

Top Articles

Daily Snapshot


More ...

Sources



Ahram OnlineAljazeeraAllafricaANSA medCNNGoalmarocpressMiddle East OnlineMorocco boardMorocco TomorrowMorocco world newsOman TribuneThe Africa Reportthe Starzawya