The Moroccan Capital Market Authority (AMMC) has approved OCP SA’s groundbreaking bond issuance of up to 5 billion dirhams. This monumental financial move, registered under the code VI/EM/036/2024, reflects OCP’s commitment to fortifying its financial position and driving forward its ambitious strategic projects.
The bond’s prospectus incorporates the 2023 reference document, registered last August, alongside a specific update finalized on December 3, 2024. It also includes a detailed technical and financial memorandum. With AMMC’s confirmation of compliance, the issuance is set to proceed within a structured and transparent framework.
OCP SA has designed the bond issuance to appeal to a diverse investor base, offering five non-listed tranches with maturities ranging from 10 to 30 years. Investors can choose between fixed or adjustable interest rates, pegged to Morocco’s treasury bond curve and adjusted with appropriate risk premiums. The bonds will be repaid in full at maturity, ensuring flexibility and attractive conditions for investors.
The subscription period is scheduled from December 10 to December 12, 2024, using a “French-style” allocation method to ensure fair distribution among participants. The bonds will be traded over the counter, with a restriction on access for U.S. residents under specific conditions.
A Strategic Financial Initiative
This record-setting issuance aligns with OCP SA’s broader strategy of diversifying its funding sources while solidifying its presence in financial markets. The funds raised will underpin key initiatives, including innovation projects, sustainability efforts, and international expansion. Investors, in turn, are promised competitive returns in a secure regulatory environment.
The AMMC’s endorsement highlights the resilience and sophistication of Morocco’s financial ecosystem. OCP SA’s initiative not only reinforces its pivotal role in the nation’s economy but also opens doors for enhanced investor confidence and capital market activity.
At 5 billion dirhams, this bond issuance marks a major milestone for OCP SA and Morocco’s industrial and financial landscape, setting the stage for continued economic dynamism and growth.
