Dechert Leads on the Kingdom of Morocco’s Dual-Tranche US$2.5 billion Eurobond Issuance

Dechert continues to cement its position as a leading advisor on MENA region sovereign bond transactions through its representation of the joint lead managers on the Kingdom of Morocco’s US$2.5 billion dual-tranche offering, which closed on 8 March 2023.

The issuance, which was comprised of Morocco’s US$1.25 billion 5.95 percent notes due 2028 and US$1.25 billion 6.50 percent notes due 2033, marks the Kingdom’s return to the international capital markets following its successful offering in December 2020, on which the Dechert team also advised. The Eurobonds are listed on the main market of the London Stock Exchange. London-based partners, Patrick Lyons and Jennifer Rees, led the team advising the joint lead managers, with support from a London- and Paris-based core team comprised of associates Nick Quarrie, Amy Rees and Yona Elfassi.

Members of Dechert’s international capital markets team have advised on all issuances by Morocco since 2003.

Dechert’s international capital markets team based in Dubai, Hong Kong, London, Paris, Singapore and the United States has a strong track record advising on innovative capital markets transactions in the emerging markets and is a market-leading practice in the representation of sovereigns and state-owned enterprises.

About Dechert

Dechert is a leading global law firm with 21 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.