Morocco Secures €2 Billion Bond for 2030 World Cup Preparations

Morocco has successfully raised €2 billion (approximately $2.2 billion) through euro-denominated bonds in its first issuance since 2020, aimed at financing infrastructure for the 2030 FIFA World Cup, which it will co-host with Spain and Portugal. The dual-tranche sale attracted over €6.75 billion in bids, exceeding expectations by €500 million. The final spread for the four-year bond was set at 155 basis points over midswaps, while the ten-year bond was priced at 215 basis points, both tighter than initial estimates. This bond sale reflects Morocco's strong investor interest and stability, as the country holds the highest credit rating among speculative-grade nations. To support economic growth, the central bank has also cut key interest rates for the second consecutive time. Major banks such as BNP Paribas, Citigroup, Deutsche Bank, and JPMorgan managed the bond sale.