Morocco’s OCP plans international bond sale

Morocco’s phosphates and fertilizers producer OCP plans to issue a dual-tranche bond of 5 and 10 years, Reuters reported.

OCP has mandated Citi and JP Morgan to arrange the bond sale, the agency reported without adding details.

In February last year, OCP completed the issuance of an additional $300 million bond, linked to the group’s May 2024 international bond totaling $2 billion.

The group aims to use the raised funds to back its expansion plan as it prepares to go fully green by 2040.

In 2024, OCP reported revenue growth at 6% in 2024 to 9.7 billion dollars, following improving demand in the international markets.