Morocco’s state-owned rail operator ONCF raised $200 million via a green bond that was five times over-subscribed with a total demand reaching $1 billion.
The bond was part of ONCF’s green push, as it plans to expand the national rail network.
The four-tranche bond had maturities ranging from 10 to 15 years at rates varying from 2.9% to 4.4%.
ONCF has previously announced that 90% of its trains operate on wind energy.
By 2040, Morocco plans to connect 43 with the rail network, from only 23 currently, which will benefit 87% of the population.