Morocco mandates banks to issue its international bond

Barclays, BNP Paribas, J.P. Morgan and NATIXIS have been mandated by Morocco to hold meetings with fixed-income investors in Europe in November 14, Reuters said Tuesday, quoting a bank document.

«A benchmark 144A/Regulation S EUR offering of 12 or 20-year maturity will follow, subject to market conditions», the same document said.

For the record, Morocco has announced earlier this year that it is planning to issue its first international bond in four years in November.

The international bond is worth about $1 billion, the same source added. A senior finance ministry official told the British press agency that Morocco will be choosing between dollars and euros for the bond. The Finance minister also stressed that the bond issued will not be more than $1.5 billion.