he phosphate group OCP announced on November 12 that it will exercise the early redemption option on its subordinated perpetual bond issued on December 23, 2016, at the first date provided for in the issue contract.
The redemption will take place on December 23, 2026 and cover all bonds still outstanding, across the six tranches A to F. Each bond will be repaid at its face value of 100,000 dirhams, plus the coupon due on that date.
The bond, cleared by the Moroccan Capital Market Authority on December 9, 2016, amounted to 5 billion dirhams at issue. OCP’s notice does not state the amount still outstanding.
CDG Capital, the centralizing institution and custodian of the securities, will handle the operation with Maroclear and the account keepers, whom holders are asked to contact.
Photo: Bertrand SOUBEYRAND, CC BY 4.0.
OCP SA - Avis de remboursement anticipé d’un emprunt obligataire subordonné perpétuel
Autorité marocaine du marché des capitaux - OCP SA, émission d’obligations subordonnées perpétuelles, visa VI/EM/031/2016/D
