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French version: Orrick a conseillé le Royaume du Maroc dans le cadre d’une émission obligataire de 2,5 Md de dollars US sur le marché international
Orrick advised the Kingdom of Morocco on its USD 2.5 billion international bond offering.
The bonds, which are Rule 144A/RegS private placements, were issued in two USD 1.25 billion tranches. The first tranche has a maturity of five years serving a coupon of 5.95% per annum, and the second tranche has a 10.5 year maturity with a coupon of 6.50% per annum.
The issuance, which marks the return of the Kingdom of Morocco to the international markets since its last issuance in December, 2020, was extremely well received by international investors.
The Orrick team was led by Carine Mou Si Yan, partner in the Paris office, and included Bill Haft, partner in the New York office and Sushila Nayak, partner in the London office. Orrick previously advised the Kingdom of Morocco on its sovereign debt issues in 2020 and 2019.