OCP targets $1bn bond issue

OCP targets $1bn bond issue

Moroccan fertiliser producer OCP is hoping to attract $1bn of funds with its latest bond issue as it targets an expansion.

The Casablanca-headquartered phosphate miner is launching a second debt offering to fund a doubling of mining capacity and a tripling of fertiliser capacity by 2025, according to a statement from the firm.

OCP, which owns phosphate assets in Morocco, appointed Morgan Stanley and Barclays as joint book-runners on the offering.

The firm is moving away from a financing model based on bank debt in favour of raising money on international capital markets, according to the firm. It launched its first global bond in April 2014.

The $1bn issue has been priced with a 10.5 year maturity and a 4.5% coupon.


Rate this article

Written by African Business Magazine

African Business and its award-winning team is widely respected for its editorial excellence. We provide the all important tools enabling you to maintain a critical edge in a continent that is changing the world. Our special reports profile a wide range of sectors and industries including Energy, Oil and Gas, Aviation, Agriculture to name but a few.

Related Posts

Join our mailing list to receive a sharp, curated weekly round-up of African business news.

Help us deliver better content