BMCE - Investment in Eurobond issue

Location:

Morocco

Project number:

45456

Business sector:

Notice type:

Private

Environmental category:

FI

Approval date:

25 Jun 2013

Status:

Completed

PSD disclosed:

25 Nov 2013

Translated version of this PSD: French

Project Description

The EBRD has invested USD 60 million in a USD 300 million debut senior unsecured Eurobond by Banque Marocaine du Commerce Extérieur (“BMCE”). BMCE shall increase the aggregate size of its Loan Portfolio to Micro, Small and Medium-sized Enterprises (“MSMEs”) in Morocco by more than an equivalent amount.

Transition Impact

The investment will increase access to funding for Moroccan MSMEs, and supported a debut bond issue by a Moroccan bank.

The Client

BMCE, incorporated as a public joint stock company under the laws of Morocco, is one of the largest Moroccan banks by assets.

EBRD Finance

USD 60 million investment in the 5-year senior unsecured bond issue.

Project Cost

USD 60 million.

Environmental Impact

Categorised FI: BMCE has capacity to implement the EBRD's E&S requirements in compliance with Performance Requirements 2 and 9. BMCE will submit Annual Environmental and Social Reports to the EBRD.

Technical Cooperation

None.

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Share this page: