issue, which took place in a difficult context marked by uncertainties related
to the evolution of the coronavirus (Covid-19) pandemic and its impact on the
credit quality of issuers, was a resounding success among international
investors with an order book exceeding € 2.5 billion from 197 investors, the
ministry added, noting that this success confirms the confidence Morocco enjoys
with international bond investors and rating agencies.
issue took also place following a "NetRoadshow" led by the Minister
of Economy, Finance and Administration Reform, Mr. Mohamed Benchaaboun, and the
teams of the Department of the Treasury and External Finances with the
international investor community.
"NetRoadshow" was an opportunity to highlight the political stability
enjoyed by the Kingdom and the resilience of its macroeconomic framework,
confirmed by the "Investment Grade" granted by the rating agencies
S&P Global Ratings and Fitch Ratings, as well as the scope of reforms
implemented under the enlightened leadership of HM King Mohammed VI, which put
Morocco on the path of sustainable development and the strengthening of the
rule of law and the consolidation of a democratic, modern and open country.
"NetRoadshow" was also the opportunity to inform investors on the
economic and social measures taken by the kingdom to mitigate the repercussions
of the health crisis and boost the revival of the Moroccan economy.
This bond was
issued in 144A/RegS format in order to allow a large participation of investors
across the world, the source pointed out.