Doha-Morocco successfully increased EUR 2 billion (2.2 billion US dollars) in euro-shaped bonds on Wednesday, which has exceeded the first expectations by 500 million euros since 2020. Accordingly Bloomberg, citing sources that are familiar with the matter, attracted the sale of over 6.75 billion euros in the entire areas.
The North African country published the bonds in two tranches. The final spread for the four -year note was defined at 155 basis points via MIDSWAPS, much closer than the initial price talks of 190 basis points.
The 10-year note also ended up in Midswaps plus 215 basis points and also gave closer than initial discussions. BNP Paribas SA, Citigroup Inc., Deutsche Bank AG and JPMorgan Chase & Co. act as Bookrunners, whereby Lazard Inc. acts as a consultant.
Last month Finance Minister Nadia Fettah Alaoui specified In Alula, Saudi Arabia: “Today we need euros more than dollars.” The return of the existing euro bonds Morocco in March 2026 had decreased by about one percentage point since the beginning of 2025, which reached 3.03% in February.
The funds will support Morocco’s preparations for the co-moderator of the 2030 FIFA World Cup with Spain and Portugal. According to Bloomberg calculations based on government data, the total expenditure of the state until 2035, including the costs from the earthquake of 2023, is expected to achieve at least 35 billion US dollars.
Mark Bohlund, Senior Credit Research Analyst at Redd Intelligence, suggested that Morocco could spend the bonds after ensuring flexible credit line extension from the international currency fund, and determines: “It lowers the returns and offers a buffer against potential external shocks.”
Read too: 2030 World Cup: Is Morocco’s economy ready for an event of 5 billion US dollars?
The World Bank reinforced The support for the preparations of the Moroccan World Cup on February 27, when the Vice President of the World Bank for Mena, Ousmane Dione, met with the Household Minister Fouzi Lekjaa in Rabat in order to discuss the translation of planned investments in economic opportunities.
At the beginning of February, the Economic and Social Council of the Arab League pledged Economic support during his 115th session, which asks the Member States to support the preparations between Morocco.
This was followed by the commitment of the Gulf Cooperation Council to “provide all forms of support and cooperation”, announced From Secretary General Jassim Muhammad al-Budawi in December 2024
Investment projects include the expansion of the railway, the modernization of the airport, road networks, deep-sea ports, desalination systems and investments in the infrastructure around green hydrogen and renewable energies.
Morocco, which of all three most important rating companies holds the highest rating of non-investment note, previously sold $ 2.5 billion $ 2.5 billion.
The current bond sale comes because the central bank implemented its second episode in a row Interest rate To facilitate the local credit costs and promote investments.
