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RABAT, April 26 (Reuters) - Morocco's OCP raised $2 billion in a dual-tranche Eurobond to fund its green transition plan, the phosphates and fertilisers producer said on Friday.
The bond is split into $1.25 billion and $750 million tranches due in 10 and 30 years, with interest rates of 6.75% and 7.5% respectively, OCP told Reuters by email.
Requests for subscriptions reached $6.2 billion or 3.1 times the amount offered, it said.
Citi, JP Morgan and BNP Paribas arranged the bond, which the state-owned company said would help it implement its $13 billion 2022-2027 investment plan.
The plan includes raising fertiliser production to 20 million tons from 15 million currently and shifting fully to renewables by 2027.
OCP also plans to produce 1 million tons of ammonia in three years to reduce dependence on imports, as it also invests in desalination plants.
Moody's has kept its rating on OCP at Baa3 investment grade since 2023, while S&P upgraded the firm's outlook to positive from stable.
(Reporting by Ahmed Eljechtimi;
editing by Alison Williams and Jason Neely)