OCP launches investor roadshow for up to $2 billion bond offering

OCP has begun an investor roadshow for an international bond offering worth up to USD 2 billion to finance its development plan, Reuters reported, citing an OCP source. The source added that the group has authorized BNP Paribas, Citi, and JP Morgan to manage the offering.

The bonds will be the first since the group announced in 2022 a USD 13 billion strategy to fully transition to renewable energy to power its industrial operations. The company also plans to invest in green hydrogen for ammonia production and is investing in desalination.

The group's last international bond offering was a USD 1.5 billion two-tranche issuance in 2021.