The bond issue launched by Morocco on the international market in March 2023 has just won the prize for "Best sovereign bond in Africa" of the year 2023, awarded by the prestigious financial magazine EMEA Finance.
The British specialist magazine EMEA Finance annually ranks the leading transactions on the international financial market, as well as the main players in Europe, the Middle East and Africa.
The EMEA Finance awards are based on votes cast by market players, and recognize the most successful transactions and the quality of the work carried out by the issuer and its partners.
The road show organized by the Ministry of the Economy and Finance to coincide with the raising of this bond issue confirmed Morocco's position as a player appreciated by investors, offering a credible credit rating reinforced by a sustained drive for structural reform and political and social stability.
The success of the roadshow and investor demand in excess of 11 billion USD testify to the confidence enjoyed by our country, and represent recognition of the progress made by our country. The roadshow enabled Morocco to successfully place this USD 2.5 billion issue in two tranches. The first tranche was for USD 1.25 billion with a 5-year maturity and an interest rate of 5.95%. The second tranche, for USD 1.25 billion, has a maturity of 10.5 years and an interest rate of 6.5%.
The Ministry of Economy and Finance was supported in this move by four lead banks: BNP Paribas, Citigroup, Deutsche Bank and JP Morgan.