Morocco has delayed its maiden dollar bond sale to end-November pending market stability, the budget minister said in published remarks on Wednesday, but banks have already been mandated for an issue that may exceed the initial $1 billion mark.
The delay's announcement, carried by L'Economiste newspaper, comes amid intense speculation King Mohammed would soon make a rare official tour of the Gulf Arab region from where Rabat hopes to raise a substantial share of the issue.
Initially estimated at $700 million-$1 billion, the cash-strapped country now says it may go for more.
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