Morocco to launch €1 billion foreign borrowing in 2019

Morocco is to launch in the course of this year an international borrowing of €1 billion, to be followed by another one of the same amount in 2020.

This loan is provided for in the 2019 Finance Law.

A roadshow will be conducted in the coming weeks to mobilize investors for both operations, reported Media24 news website, quoting a reliable source.

The advisory banks and the borrowing currency have already been chosen, the media said.
“The exact technical characteristics of this borrowing and its launch timing depend on market conditions and investors’ appetite,” said an authorized source earlier this year.

This loan will establish a new benchmark for Morocco’s signing on the international financial market after an absence of more than four years, strengthen the stock of foreign assets and renew contact with international investors to present to them the latest sectoral and structural reforms initiated by the country.

The transaction will not affect the level of liquidity in the local market and take advantage of the funding cost gap that the international market offers.

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