Morocco Raises $2.5 Billion in International Bond Market

This bond issue is divided into two tranches of $1.25 billion each, said the Minister of Economy and Finance, Nadia Fettah Alaoui, in London. Issued at a spread of 195 bp and a price of 98.855%, the first tranche with a 5-year maturity offers a yield of 6.22% and pays a coupon of 5.95%. As for the second tranche with a maturity of 10 and a half years, it was issued at a spread of 260 bp and a price of 99.236%, i.e. a yield of 6.602% and a coupon of 6.50%, it is specified.

"This issue testifies to the confidence of investors in the resilience of the Moroccan economy in a crisis context, as well as the solidity of the Kingdom’s macroeconomic fundamentals and the rigor of its public finances," stressed Fettah Alaoui in a statement to MAP. According to the minister, this international outing in a context of volatility and difficulty in financial markets "is proof of the quality of our economy and our credit."