OCP takes out $1bn debt facility to fund phosphate capacity expansions

By James Sean Dickson
Published: Friday, 17 April 2015

Rapid expansion plans – the company is looking to triple its fertiliser output in 10 years – are to be partially financed by the new $1bn loan facility, which OCP has raised from international capital markets. The company anticipates that its extra production capacity will be swallowed by rising demand, especially by internal African markets.

Morocco state-owned phosphate producer Office Cherifien des Phosphates SA (OCP) has successfully priced a $1bn offering with a 10.5 year maturity at a 4.5% coupon.

The Moroccan company said that the proceeds would be invested in its capex programme, which...

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