Morocco's OCP Group's $2 Billion Dual-Tranche Eurobond 3.1 Times Oversubscribed.

Morocco's leading fertiliser producer, OCP Group, has successfully raised $2 billion in a dual-tranched Eurobond issue to fund its green energy transition. OCP Group plays a significant economic role in Morocco due to the value of phosphates and its contribution to the country's GDP.

OCP Group has initiated a green transition plan to make it entirely reliant on renewable energy by 2027. The bond is divided into $1.25 billion and $750 million tranches, due in 10 and 30 years, respectively, with interest rates of 6.75% and 7.5%. The proceeds from the bond sale will be used to execute this plan.

OCP Group and The African Development Bank recently signed three $188 million loan agreements to fund its Green Investment Program, which will provide clean drinking water to the towns near its three new desalinisation plants. The issue was in high demand, surpassing expectations by 3.1 times the amount offered, which was $6.2 billion.

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