Morocco's state-owned phosphate giant, OCP Group, is set to raise an impressive $540 million through the issuance of a subordinated perpetual bond, aimed at financing the second phase of its comprehensive industrial, energy, and environmental transformation strategy. This strategic move has garnered the approval of the Moroccan Capital Market Authority (AMMC), with the bond offering scheduled exclusively for qualified Moroccan institutional investors from June 11 to June 15, as per various press reports.
To facilitate this significant financial transaction, OCP has enlisted the expertise of CDG Capital and Attijari Finances Corp as financial advisors. The placement of these securities will be overseen by CDG Capital in collaboration with Attijariwafa Bank, ensuring a robust and strategic approach to this fundraising initiative. This bond issuance is particularly crucial as OCP embarks on a new investment cycle, which is focused on expanding its production capacity, accelerating the deployment of renewable energy solutions, and enhancing water security across its operations.
A primary goal of this second phase is to boost OCP's annual production capacity for plant nutrition solutions from 16 million tons to an ambitious 19 million tons by the year 2027. This target aligns with the company's overarching vision of sustainable growth and innovation within the agricultural sector. In the first quarter of 2026, OCP reported revenues of $2.17 billion, a slight decrease from $2.33 billion during the same period the previous year, primarily attributed to rising raw material costs and persistent volatility in global fertilizer markets.
In a notable achievement earlier this year, specifically in April 2026, OCP Group successfully completed its inaugural international hybrid bond issuance, raising a total of $1.5 billion. This marked a historic milestone as it was the first issuance of its kind by an African corporate entity. The proceeds from this bond are intended to support the Group's extensive investment program and meet its general funding needs for the 2026 financial year.
As reported by northafricapost.com.
