Wednesday 5 December 2012

Morocco launches dual-tranche USD deal | Reuters

The Kingdom of Morocco, rated BBB-/BBB-, has launched a dual-tranche 144a/Reg S US dollar-denominated bond deal, according to a source.

The sovereign has launched a previously announced USD1bn 10-year tranche at a spread of 275bp over US Treasuries, at the tight end of revised guidance of 280bp over plus or minus 5bp.

It has also added a USD500m 30-year tranche, which was launched at a spread of 290bp over US Treasuries.

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