Moroccan fertilizer giant OCP has successfully completed an additional bond issue of $300 million to finance its ongoing growth and expansion plans.
This issuance follows the successful completion of a $2 billion bond issue in May 2024 and aligns with the authorization granted by the company’s Board of Directors on December 3rd.
The new bonds, issued in accordance with European Regulation 2017/1129, will be fully fungible with the bonds issued in May 2024. The issuance comprises two tranches: a $75 million tranche maturing in 2034 with a coupon rate of 6.75% and a $225 million tranche maturing in 2054 with a coupon rate of 7.50%.
OCP plans to utilize the proceeds from this bond issue to finance its ongoing projects and support its continued growth and expansion.
This successful bond issuance underscores OCP’s strong financial position and its commitment to investing in its future. The company has outlined ambitious investment plans for the period 2025-2027, with an estimated investment of around $14 billion over the next three years.
This news follows the announcement by the Moroccan Capital Market Authority (AMMC) in October 2024 regarding OCP’s plans for a domestic bond issue, comprising five unlisted tranches with maturities ranging from 10 to 30 years.
OCP is a global leader in the fertilizer industry, playing a crucial role in supporting agricultural productivity and food security worldwide.
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