OCP S.A. successfully raised US$300 million through a tap issue on its May 2024 international bond
Published by Emilie Grant,
Editorial Assistant
World Fertilizer,
In accordance with the authorisation of its Board of Directors on 3 December 2024, and pursuant to European Regulation (EU) 2017/1129 , which allows for the issuance of additional bonds within 12 months of the initial issuance under simplified conditions, up to a maximum of 30% of the original amount, OCP S.A. announced the successful completion of a US$300 million tap issue. This additional issuance is linked to OCP’s May 2024 international bond issuance, which totalled US$2 billion.
The new bonds have the same characteristics as the original issuance and will be fully fungible with the bonds issued in May 2024. They are structured into two tranches:
- US$75 million maturing in 2034, with a 6.75% coupon.
- US$225 million maturing in 2054, with a 7.50% coupon.
OCP plans to allocate the raised funds to financing its investment program and general corporate purposes.
The bonds are listed on EURONEXT Dublin and have received the following ratings:
- Fitch Ratings: BB+ (stable).
- Standard & Poor’s: BB+ (positive).
- Moody’s: Baa3 (stable)/
Read the article online at: https://www.worldfertilizer.com/project-news/06022025/ocp-sa-successfully-raised-us300-million-through-a-tap-issue-on-its-may-2024-international-bond/
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