Morocco’s state-owned phosphate OCP Group is planning to raise up to $540 million through a subordinated perpetual bond to fund second phase of its ambitious industrial, energy, and environmental transformation strategy.
The bond issue, approved by the Moroccan Capital Market Authority (AMMC), will be open exclusively to qualified Moroccan institutional investors from June 11 to June 15, according to press reports.
OCP has appointed CDG Capital and Attijari Finances Corp as financial advisors for the transaction, while CDG Capital and Attijariwafa Bank will oversee the placement of the securities.
The fundraising comes as OCP enters a new investment cycle focused on expanding production capacity, accelerating renewable energy deployment, and strengthening water security.
A key objective of this second phase is to increase OCP’s annual production capacity for plant nutrition solutions from 16 million tons to 19 million tons by 2027.
OCP reported $2.17 billion in revenues during the first quarter of 2026, compared to $ 2.33 billion recorded during the same period a year earlier, amid higher raw material costs and continued volatility in global fertilizer markets.
In April 2026, the OCP Group announced the successful completion of its inaugural international hybrid bond issuance for a total amount of $1.5 billion, marking first of its kind issuance by an African corporate.
The company had said the proceeds will contribute to financing the Group’s investment program, as well as its general funding needs for the 2026 financial year.
