Morocco’s OCP selects banks, sets investor calls for dollar bonds with 10- and 30-year maturities

By Rebecca Melvin

Concord, N.H., June 8 – OCP SA has mandated banks to arrange a series of fixed-income investor calls regarding a benchmark offering of U.S. dollar-denominated senior bonds due in 10 and 30 years, according to a market source.

Barclays, BNP Paribas and JPMorgan are joint dealer managers of the Rule 144A and Regulation S deal for which investor calls commence on Tuesday.

The company has also announced an invitation to purchase for cash up to $1 billion of its outstanding $1.25 billion of 5 5/8% notes due 2024 and $1 billion 4½% notes due 2025, subject to the successful settlement of the bond offering and other conditions.

OCP is a state-run phosphate company that is based in Casablanca, Morocco.

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