Orrick represented the Kingdom of Morocco on its issuance of $3 billion in bonds on the international financial market. The Rule 144A/Regulation S triple-tranche bond was extremely well received by international investors. This is the first dollar-denominated bond issued by the Kingdom of Morocco in seven years and will help to bolster the Kingdom’s economy in light of the challenges presented by COVID-19.
Orrick has previously advised the Kingdom of Morocco on two separate similarly structured international note offerings, including a €1 billion bond issuance in September 2020 and a €1 billion bond issuance in November 2019. “We are delighted to continue to advise the Kingdom of Morocco on these bond issuances, which help to diversify Morocco’s economy and attract foreign investment. These sophisticated sovereign debt offerings require seamless collaboration from the Orrick team, utilizing our international platform,” said Carine.