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Moroccan fertilizer firm OCP secures $300 million through strategic bond issuance
Morocco's prominent fertilizer producer OCP has successfully completed a $300 million bond issuance, furthering its expansion plans and financial strategy. The issuance follows the authorization granted by the company's Board of Directors in December of the previous year and complies with European Regulation 2017/1129.
This latest financial move builds upon OCP's May 2024 international bond issuance of $2 billion, with the new bonds designed to be fully fungible with the previous issuance. The structure includes two tranches: $75 million in bonds maturing in 2034 with a 6.75% coupon, and $225 million maturing in 2054 with a 7.50% coupon.
The company plans to direct these funds toward its various projects and programs. This follows OCP's earlier bond issuance announcement through the Moroccan Capital Market Authority (AMMC), which included a MAD 5 billion initiative launched in December.
OCP's investment strategy encompasses a substantial $14 billion investment plan for 2025-2027. According to the Ministry of Economy's October 2024 report on public enterprise, this investment will be distributed as follows: MAD 45 billion ($4.54 billion) in 2025, MAD 52 billion ($5.25 billion) in 2026, and MAD 42.15 billion ($4.25 billion) in 2027.
Looking ahead, OCP projects revenue of approximately MAD 102.65 billion ($10.37 billion) for the current year, demonstrating the company's continued growth trajectory in the global fertilizer market.
