Morocco Taps Global Banks for Euro-Denominated Bond Issuance

Bloomberg has announced that the kingdom has mandated four investment banks to assist it in this debt raising. These are Barclays, BNP Paribas, Natixis and JP Morgan.

Launched on Wednesday, this debt raising will be in euros with two maturities: 5 and 10 years. No target amount. "It is a call for subscription where each investor will estimate the amount it can put in," explains an expert to the Le Boursier site.

"These new bonds will be assimilated to old Moroccan lines that will mature. So it will be a kind of renewal of old lines," he adds, stressing that the operation can be completed in two, or three days maximum. The results are expected next Monday.