The Moroccan Transport Company (CTM) has successfully completed a private bond placement, raising a total of 300 million dirhams from qualified investors. This strategic move was announced by the publicly traded company in a recent press release.
The bond issue is structured as a single tranche with a fixed interest rate, to be repaid in equal installments over five years.
This bond issuance will enable CTM to achieve three key objectives:
Firstly, it will finance the acquisition of a 51% stake in the maritime transport company Africa Morocco Link (AML). The acquisition of this majority stake from Bank of Africa was initially announced on April 4.
Secondly, the bond issue will allow CTM to optimize its financing costs. Finally, it will help the company diversify its funding sources.
