OCP S.A. Issues an Additional $300 Million Bond
On Tuesday, OCP S.A. announced the successful completion of its “Tap Issue,” involving an additional issuance of $300 million in bonds, linked to its international bond issuance of $2 billion carried out in May 2024. This operation was conducted in accordance with the authorization from OCP’s Board of Directors dated December 3, 2024, as well as European regulations (EU) 2017/1129, which allow for the issuance of additional bonds within 12 months following an initial issuance, with simplified conditions and limited to 30% of the initial amount.
The new bonds, which share the same characteristics as those issued in May 2024, are divided into two tranches: $75 million maturing in 2034 with a coupon of 6.75%, and $225 million maturing in 2054 with a coupon of 7.5%. These securities will be assimilated to the initially issued bonds and are listed on EURONEXT Dublin.
The funds raised will be allocated to finance OCP’s investment program and its general needs. The bonds have received ratings of BB+ (stable) from Fitch Ratings, BB+ (positive) from Standard & Poor’s, and Baa3 (stable) from Moody’s.
