BMCE - Investment in Eurobond issue

Location:

Morocco

Project number:

45456

Business sector:

Notice type:

Private

Environmental category:

FI

Target board 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.

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