Rabat successfully issued Thursday, September 24, a bond on the international financial market of 1 billion euros in two tranches of 500 million euros each. The first, with a maturity of 5.5 years, has a price of 99.374% and a rate of return of 1.495%. The 2nd tranche, with a 10-year maturity, has a price of 98.434% and a rate of return of 2.176%, ie a coupon of 2%.
This issue takes place in a context marked by uncertainties linked to the evolution of the Covid-19 pandemic and its impact on the credit quality of issuers. It was popular with an order book exceeding 2.5 billion euros from 197 international investors. Morocco’s Investment Grade rating was a reassuring element for subscribers.
