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RPT-Morocco mandates banks for bond investor meetings-document

13 Nov 2019

RABAT, Nov 12 (Reuters) - Morocco has mandated Barclays, BNP Paribas, J.P. Morgan and NATIXIS to arrange meetings with fixed-income investors in Europe starting Nov. 14, according to a bank document seen by Reuters on Tuesday. “A benchmark 144A/Regulation S EUR offering of 12 or 20-year maturity will follow, subject to market conditions,” said the document, written by one of the banks leading the meetings.

Morocco has announced a roadshow on Nov. 18 for an international bond worth around $1 billion dollars that it plans to issue this year. Finance Minister Mohamed Benchaaboun announced the bond, Morocco’s first in four years, last month, saying its size, currency and date of issue would be decided later. Ratings agency S&P in October upgraded Morocco’s outlook from negative to stable, while maintaining its BBB-rating. Moody’s in September also rated it stable.

reuters

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