Morocco Issues $2.5 Billion Bond on International Financial Market

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

A rate of return of 6.22% and a coupon of 5.95% were offered on the first five-year tranche, which was issued at a spread of 195 basis points and a price of 98.855%. A rate of return of 6.602% and a coupon of 6.50% were offered on the second 10.5-year tranche, which was issued at a spread of 260 basis points and a price of 99.236%.

This foreign market entry comes after Fettah Alaoui and representatives from the Treasury and External Finance Department conducted a roadshow to the global investment community (DTFE)

Its listing “is a testimonial to investors’ faith in the durability of the Moroccan economy amid a crisis, as well as the integrity of the Kingdom’s macroeconomic fundamentals and the discipline of its public finances,” Fettah Alaoui told MAP.

She stated that because the Kingdom of Morocco is in a position of leadership on the African continent, the first Roadshow in three years was an opportunity to discuss with investors the outstanding accomplishments and dynamism of the Moroccan economy under the wise leadership of His Majesty King Mohammed VI.

Fettah Alaoui said that the robust reaction from top-notch investors is a “real testimonial of the confidence enjoyed by Morocco,” adding that “this international entry in a situation of volatility and difficulty of financial markets is confirmation of the strength of our economy and our credit.”

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