More African eurobond issuance via #Morocco. 3 bonds (7, 12 & 30 years). Total $3bn. Follows their EUR 1bn in Sep-20. Low global interest rates meant a low cost of borrowing with annual coupons on the bonds of 2.375%, 3% & 4%

Morocco has raised $3 billion in a triple-tranche bond sale, a document showed on Wednesday, as it seeks to bolster state finances hit by the coronavirus pandemic.
DUBAI, Dec 9 (Reuters) - Morocco has raised $3 billion in a triple-tranche bond sale, a document showed on Wednesday, as it seeks to bolster state finances hit by the coronavirus pandemic.
The government sold bonds with maturities of seven, 12 and 30 years, raising $750 million, $1 billion and $1.25 billion from each tranche respectively, according to a document issued by one of the banks leading the deal and reviewed by Reuters.
The debt sale, which offers coupons of 2.375%, 3% and 4%, was managed by Barclays BARC.L, BNP Paribas BNPP.PA, JPMorgan JPM.N and Natixis CNAT.PA.
Morocco's ministry of finance was not immediately available to comment.
The pandemic has hit both Moroccan exports and demand, with the economy expected to contract by up to 7% this year, according to the International Monetary Fund.
The government deficit this year will widen to 7.8% of gross domestic product from 4.1% last year, the Fund has said.
Morocco's bonds come after a flurry of issuances by governments in the Middle East which have tapped foreign investors by record levels this year to contain widening deficits, while attracting yield-chasing investors amid low global rates.
Morocco's government debt is set to surge to 76.1% of GDP in 2020 from 65% in 2019, the Central Bank has said.
Last week, the World Bank approved a $400 million loan in support of Morocco’s reforms to strengthen the safety net for poorer households.