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Morocco’s phosphate giant OCP Group is preparing to raise up to 5 billion Moroccan dirhams ($540 million) through a subordinated perpetual bond aimed at supporting the second phase of its ambitious industrial, energy, and environmental transformation strategy.
The bond issue, approved by the Moroccan Capital Market Authority (AMMC), will be open exclusively to qualified Moroccan institutional investors from 11 June to 15 June, Morocco World News website said in a weekend report.
OCP has appointed CDG Capital and Attijari Finances Corp as financial advisors for the transaction, while CDG Capital and Attijariwafa Bank will oversee the placement of the securities.
The fundraising comes as OCP enters a new investment cycle focused on expanding production capacity, accelerating renewable energy deployment, and strengthening water security.
A key objective of this second phase is to increase OCP’s annual production capacity for plant nutrition solutions from 16 million tonnes to 19 million tonnes by 2027.
The expansion will be supported by the development of a new phosphate mine in Meskala and the construction of a major industrial platform in the western Mzinda city.
OCP reported revenues of MAD 20.1 billion ($2.17 billion) during the first quarter of 2026, compared to MAD 21.6 billion ($ 2.33 billion) during the same period a year earlier, amid higher raw material costs and continued volatility in global fertiliser markets.
In April 2026, the Group had announced the successful completion of its inaugural international hybrid bond issuance for a total amount of $1.5 billion, marking first of its kind issuance by an African corporate. The company had said the proceeds will contribute to financing the Group’s investment programme, as well as its general funding needs for the 2026 financial year.
(1 US Dollar = 9.26 Moroccan dirhams)
(Writing by N Saeed; Editing by Anoop Menon)
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