Morocco’s OCP initiates roadshow for international bond

Moroccan phosphate and fertilizer producer OCP has initiated an investor roadshow for an international bond, aiming to raise to $2 billion for its development plan, Reuters reported citing a disclosure from the company insider on Monday.

BNP Paribas, Citi, and JP Morgan have been selected to oversee the bond issuance, according to the same source.

This bond marks OCP’s first major fundraising initiative since unveiling a $13 billion strategy in 2022, focused on transitioning entirely to renewable energy for its industrial operations.

Additionally, the company intends to channel investments into green hydrogen for ammonia production and has been actively involved in desalination projects.

OCP’s previous international bond issuance occurred in 2021, comprising two tranches and totalling $1.5 billion.