The Moroccan multinational group OCP (Office Chérifien des Phosphates) has embarked on a significant financial initiative by engaging in discussions with international institutional investors on April 14. This endeavor marks a historical milestone as it aims to execute Africa’s first-ever corporate hybrid bond issuance denominated in dollars, a move expected to strengthen the region’s financial landscape. The prestigious banking institutions BNP Paribas, Citi, and J.P. Morgan have been designated as bookrunners for this ambitious operation, which will involve the issuance of perpetual subordinated bonds featuring floating coupons. It is anticipated that these bonds will be issued either in a single tranche or in two separate tranches, thereby providing flexibility to investors while enhancing the appeal of this innovative financial instrument.
Under the leadership of Adama Wade, Kapital Afrik strives to deliver strategic and financial insights tailored for executives and managers navigating the complexities of the African market. The platform is dedicated to disseminating vital financial and political news, prioritizing human entrepreneurial experiences, and breathing life into economic policies that resonate with the realities of the continent. Moreover, by offering a rich tapestry of statistical analyses, Kapital Afrik seeks to provide its audience with meaningful context and interpretation of data that influences decision-making in the business landscape.
As reported by financialafrik.com.
