{"id":32170,"date":"2026-04-16T17:59:44","date_gmt":"2026-04-16T15:59:44","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=32170"},"modified":"2026-04-16T22:10:55","modified_gmt":"2026-04-16T20:10:55","slug":"moroccan-fertilisers-maker-ocp-raises-1-5-billion-in-hybrid-bond","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/moroccan-fertilisers-maker-ocp-raises-1-5-billion-in-hybrid-bond\/","title":{"rendered":"Moroccan fertilisers maker OCP raises $1.5 billion in hybrid bond"},"content":{"rendered":"<div><span style=\"font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">Morocco&#8217;s phosphates and fertilizer giant OCP raised $1.5 billion through its first international hybrid bond, becoming the first \u200bAfrican group to issue a US Dollar-denominated hybrid on global markets, an OCP \u200cdocument showed <\/span><span dir=\"ltr\" style=\"font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">this Thursday<\/span><span style=\"font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">.<\/span><\/div>\n<div dir=\"ltr\"><\/div>\n<div>The transaction also re-opened Middle East and North Africa\u00a0public primary bond markets after a hiatus of more than a month amid heightened volatility linked to the Iran conflict.<\/div>\n<div dir=\"ltr\"><\/div>\n<div>OCP&#8217;s inaugural dollar hybrid was split into \u200btwo tranches for April 2031 with a 6.74% coupon, and another for April \u200b2036 with a 7.37% coupon, according to the OCP document that contains \u2060details on the issue and the context.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The bonds were arranged by Parings, Citi \u200band JPMorgan.<\/div>\n<div dir=\"ltr\"><\/div>\n<div>Demand was strong despite geopolitical uncertainty, with the order book peaking at just under $7 \u200bbillion, equivalent to 4.6 times oversubscription, prompting OCP to upsize the transaction, the document showed.<\/div>\n<div>A total of 176 investors from 23 countries participated, it said.<\/div>\n<div dir=\"ltr\"><\/div>\n<div>The issuance comes amid tightening global fertiliser markets driven by \u200bsupply constraints following tensions linked to the Iran conflict and China&#8217;s export restrictions.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":32211,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-32170","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The bonds were arranged by Parings, Citi \u200band JPMorgan.","published_date":"","news_description":"The bonds were arranged by Parings, Citi \u200band JPMorgan.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":2,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32170\/revisions"}],"predecessor-version":[{"id":32212,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32170\/revisions\/32212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/32211"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=32170"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=32170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}