Morocco boosts dollar tranches by 50%
The Kingdom of Morocco increased its outstanding $1bn 4.25% 2022s and its $500m 5.5% 2042s on Thursday by 50% each on Wednesday, bringing the tranches to $1.5bn and $750m, respectively.
The taps were led by Barclays, BNP Paribas, Citi and Natixis, the banks that had arranged the original deal, which was priced as two tranches of the same note in December last year.
It was very much an opportunistic tap on both tranches, which paid off in spades
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