Morocco: bonds

Morocco is a country located in North Africa.
Area – 446 550 sq.km (57th).
Population – 31,4 mln. (37th)
The capital is Rabat.
Official language – Arabic.
Local currency – Moroccan dirham (MAD).
Government – Constitutional monarchy.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
MAD 52 323 642 700 000
EUR 3 2 500 000 000
USD 2 2 250 000 000
corporate
MAD 110 96 136 500 000
USD 4 3 150 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
Registration required. Please log in or fill in the registration form.

Latest bond issues

issue ISIN coupon volume end of placement maturity date
Attijariwafa Bank, 4.13% 22dec2022, MAD - Domestic bonds MA0000021735 4.13% 64 800 000  MAD 12/22/2015 12/22/2022
Attijariwafa Bank, 4.13% 22dec2022, MAD - Domestic bonds MA0000092751 4.13% 192 700 000  MAD 12/22/2015 12/22/2022
Attijariwafa Bank, 4.52% 22dec2025, MAD - Domestic bonds MA0000092777 4.52% 523 600 000  MAD 12/22/2015 12/22/2025
Credit Agricole du Maroc, 4.52% 22dec2025, MAD - Domestic bonds MA0000021727 4.52% 64 600 000  MAD 12/22/2015 12/22/2025
Credit Agricole du Maroc, 4% 27nov2022, MAD - Domestic bonds MA0000021701 4% 35 000 000  MAD 11/27/2015 11/27/2022
Credit Agricole du Maroc, 4.8% 27nov2025, MAD - Domestic bonds MA0000021719 4.8% 290 000 000  MAD 11/27/2015 11/27/2025
Credit Agricole du Maroc, FRN 27nov2022, MAD (OB189) - Domestic bonds Annually adjustable interest rate referring to the full 52 - week money rate determined in reference to the Treasury bond secondary yield curve reference rate as published by Bank Al Maghrib on the 2nd November 2015 curve increased by a risk premium ranging between 0.9-1.1%. For the first year, the nominal interest rate will be ranging between 3,52% and 3,72%. 900 000 000  MAD 11/27/2015 11/27/2022
Credit Agricole du Maroc, FRN 27nov2022, MAD (OB190) - Domestic bonds Fixed interest rate referring to the 7 years T-Bond interest rate, calculated following the linear interpolation method on the basis of the secondary yield curve reference rate as published by Bank Al Maghrib on the 2nd November 2015, increased by a risk premium ranging between 0.9-1.1% i.e between 4,23% and 4,43% 900 000 000  MAD 11/27/2015 11/27/2022
Credit Agricole du Maroc, FRN 27nov2025, MAD (OB191) - Domestic bonds Annually adjustable interest rate referring to the full 52 - week money rate determined in reference to the Treasury bond secondary yield curve reference rate as published by Bank Al Maghrib on the 2nd November 2015 increased by a risk premium ranging between 1-1.2%. For the first year, the nominal interest rate will be ranging between 3,62% and 3,82%. 900 000 000  MAD 11/27/2015 11/27/2025
Credit Agricole du Maroc, FRN 27nov2025, MAD (OB192) - Domestic bonds Fixed interest rate referring to the 10 years T-Bond interest rate, determined on the basis of the secondary yield curve reference rate as published by Bank Al Maghrib on the 2nd November 2015, increased by a risk premium ranging between 1-1.2% i.e between 4,60% and 4,80% 900 000 000  MAD 11/27/2015 11/27/2025

World Bond market statistics

Quarterly indices

Type IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015 II 2015
BIS volume of international-bond market of emerging countries
Moroccan international bonds, USD bln 8.200 8.000 8.000 8.100 8.000 8.100 8.000
BIS net issues of international-bond market of emerging countries
International-bond net issue of Morocco, USD bln 0.300     -0.100 0.000 0.200 1.000

Currencies

Daily indices

Type: 03/24/2017 03/23/2017 03/22/2017 03/21/2017 03/20/2017 03/17/2017 03/16/2017
Exchange Rates (Emerging Markets)
USD/MAD 9.9697 9.9791 9.9743 9.9684 10.0073 10.0033 10.0053
show other indices

Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Morocco, 3.5% 19jun2024, EUR   EUR 06/19/2024 05/18/2016 ***.* *.* 05/18/2016 ***.** *.**
Morocco, 4.250% 11dec2022, USD   USD 12/11/2022 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Morocco, 4.50% 5oct2020, EUR   EUR 10/05/2020 05/18/2016 *** *.** 05/18/2016 ***.** *.**
Morocco, 5.375% 27jun2017, EUR   EUR 06/27/2017 05/18/2016 ***.* *.** 05/18/2016 *** -*.**
Morocco, 5.50% 11dec2042, USD   USD 12/11/2042 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
BMCE Bank, 6.25% 27nov2018, USD   USD 11/27/2018 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
OCP SA, 4.5% 22oct2025, USD   USD 10/22/2025 05/18/2016 **.*** *.** 05/18/2016 **.** *.**
OCP SA, 5.625% 25apr2024, USD   USD 04/25/2024 05/18/2016 ***.** *.* 05/18/2016 *** *.**
OCP SA, 6.875% 25apr2044, USD   USD 04/25/2044 05/18/2016 ***.** *.** 05/18/2016 ***.** *.*
* Registration required. Please log in or fill in the registration form.