OCP offers to purchase up to $2 billion of notes due 2024, 2025

By Rebecca Melvin

Concord, N.H., June 8 – Morocco’s OCP SA 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, according to a market source.

The offer is subject to the successful pricing of a benchmark offering of U.S. dollar-denominated senior bonds due in 10 and 30 years.

A series of fixed-income investor calls regarding the bond deal is commencing on Tuesday with Barclays, BNP Paribas and JPMorgan acting as joint dealer managers of the Rule 144A and Regulation S deal.

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

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