22.1 C
Casablanca
Thursday, May 30, 2024

Morocco Issues Bond Worth $2.5 Bln on International Financial Market

Morocco has issued a bond on the international financial market for a total amount of 2.5 billion dollars divided into two tranches of 1.25 billion each, Minister of Economy and Finance, Nadia Fettah Alaoui, said Wednesday in London.

The first five-year tranche was issued at a spread of 195 bp and a price of 98.855%, offering a rate of return of 6.22% and serving a coupon of 5.95%, while the second 10.5-year tranche was issued at a spread of 260 bp and a price of 99.236%, a rate of return of 6.602% and a coupon of 6.50%.

This international market entry follows a roadshow to the international investment community led by Fettah Alaoui, who was accompanied by officials of the Treasury and External Finance Department (DTFE).

“This entry is a testimony to investors’ confidence in the Moroccan economy’s resilience in a context of crisis, as well as the soundness of the Kingdom’s macroeconomic fundamentals and the rigor of its public finances,” Fettah Alaoui told MAP.

The Roadshow, the first in three years, was an opportunity to share with investors the great achievements and dynamism of the Moroccan economy under the enlightened leadership of His Majesty King Mohammed VI, the Kingdom being in a position of leadership in the African continent, she said.

“This international entry in a context of volatility and difficulty of financial markets is proof of the quality of our economy and our credit,” observed Fettah Alaoui, noting that the strong response of high quality investors is a “true testimony of the confidence enjoyed by Morocco.”

 

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article

%d bloggers like this: