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Morocco sells 1bn euro in dual-tranche bonds
- The bonds, of 500 million euro each, received more than 2.5 billion euros in orders, it said.
- "This success confirms the trust enjoyed by Morocco among international bond investors and rating agencies," it said.
RABAT: Morocco on Thursday sold bonds worth 1 billion euro split into two tranches of 5-1/2 and 10 years, a document showed.
The bonds, of 500 million euro each, received more than 2.5 billion euros in orders, it said.
The first tranche was sold at a coupon of 1.375% and the second at a coupon of 2%, the finance ministry said in a statement later in the day.
"This success confirms the trust enjoyed by Morocco among international bond investors and rating agencies," it said.
Morocco had mandated Barclays, BNP Paribas, JP Morgan and NATIXIS to arrange the bond.
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