Morocco Taps Global Banks for $1 Billion International Bond Issuance

Barclays, BNP Paribas, J.P. Morgan and NATIXIS are the four banks mandated by Morocco to participate in an upcoming international fundraising operation.

According to the Reuters news agency, these banks have the mission, in particular, to organize meetings with foreign investors starting November 14. Mohamed Benchaâboun, the Minister of Finance, will participate in this roadshow starting November 18.

Reassured by the conditions of the raising of this debt and the sovereign ratings of the rating agencies for the kingdom, he also took the opportunity, during a meeting with the press, to confirm his participation in this roadshow.

This international fundraising operation by Morocco was planned by the 2019 Finance Law. According to a source close to the ministry, "the amount to be raised could be more or less important compared to the announced objective of one billion dollars," reports TelQuel. And to add that "it will depend on the depth of the market at that time".