The OCP Group Successfully Completes Historic $1.5 Billion Hybrid Bond Issuance

OCP Group Achieves Milestone with Successful Hybrid Bond Issuance

The OCP Group (Office Chérifien des Phosphates) has announced the successful completion of its inaugural hybrid bond issuance in international markets, totaling $1.5 billion. This marks a significant first for the African continent.

A Groundbreaking Operation in Africa

According to the group, this issuance signifies a major milestone, as it represents both their first operation of this type denominated in dollars and the first hybrid bond issuance by an African company in international markets.

This achievement highlights the growing stature of OCP on the global financial stage and reaffirms institutional investors’ confidence in its strategic direction and financial strength.

Strong Demand from Investors

The operation generated substantial interest, with demand exceeding 4.6 times the amount offered. In total, 176 investors from 23 different countries participated in this issuance.

The coupons were set at 6.74% for the tranche maturing in April 2031, and 7.37% for the tranche maturing in April 2036, indicating the attractiveness of the offering amid volatile market conditions.

Confidence Affirmed Despite Uncertain Context

The issuance was structured by major international financial institutions, including BNP Paribas, Citi, and JPMorgan Chase.

This operation confirms OCP’s strong credit profile and its capability to access international markets under competitive conditions, even in the face of geopolitical uncertainties.

A Catalyst for Growth and Capital Optimization

This issuance aligns with a comprehensive strategy aimed at optimizing the group’s capital structure. It will fund development projects while maintaining debt ratios within the "Investment Grade" category.

Additionally, these instruments enjoy favorable treatment under IFRS standards, being considered 100% as equity, while credit rating agencies account for them at 50%.

A Strong Signal for African Leadership

Through this operation, OCP solidifies its status as a leading African entity and a key player in international markets. This initiative demonstrates its capacity to innovate in financing and support sustainable growth in an ever-evolving global economic environment.