VOL. XLVI

No 28

14-July-2003

MOROCCO

CAPITAL MARKETS

Morocco 400Mn Eurobond Issue Twice Oversubscribed

Moroccos debut stand-alone 400mn five-year bond has been twice oversubscribed, according to Moroccan Finance Minister Fathallah Oualalou, setting an important benchmark for future borrowing for the north African country. The coupon on the bond is 5%, with a yield of 5.24%. Subscription for the bond, which was lead-managed by BNP Paribas and Merrill Lynch, ran from 27 June until 8 July, and...