MR. Boussaid announces the issuance of a bond on the International Market : 16/06/2014
Mr. Mohammed Boussaid, Minister of Economy and Finance, announced Friday, June 13th, 2014 in London the issuance of a bond on the international financial market in the amount of € 1 billion with a maturity of 10 years at 3.5 percent.
Mr. BOUSSAID described this program as a "great success" which was twice oversubscribed, with an order book that reached a total of around 2 billion euros, thus confirming the confidence of the international financial community in the Kingdom’s ratification.
"This issuance on the Euro market, coming after an absence of four years, followed a road show in Europe organized with a delegation from the Treasury and External Finance under our Department. The delegation met with nearly a hundred high-quality investors based in London, Paris, Frankfurt, Munich, Zurich, Geneva and Amsterdam,” the Minister told the media.
Mr. BOUSSAID also stated in a meeting last Friday, with the press in London that "this road show was an opportunity for the Moroccan delegation to inform the international investors of the reforms in Morocco and the progress made in recent years at the political, economic and social levels under the leadership of HM King Mohammed VI".
The Minister also reported that the reforms and the progress made as well as the stability of our country were welcomed by the investors met such as: the International Monetary Fund and Standard Rating agencies § Poors and Fitch Ratings which gave Morocco the 'Investment grade' rate with a stable Outlook.
"Today, we have made the pricing for this issuance, which enabled Morocco to highlight the economic and financial reforms as well as its promising growth prospects," stated Mr. Mohammed BOUSSAID, stressing the enthusiasm of foreign investors who massively registered to this new international borrowing.
"The list of subscribers, which is made up of different investor profiles and diversified range of businesses (Europe, America and Gulf countries), includes managers of pension funds, private banks and central and insurance companies as well as sovereign funds, "he underlined.
The Minister also noted that the sector- based plans launched by HM King Mohammed VI started to be fruitful and made it possible to achieve sustained economic growth, reinforcing the political and financial stability of the Kingdom, highly appreciated by foreign investors.