The European Bank for Reconstruction and Development (EBRD) has invested US$ 60 million in the debut Eurobond issue of the Banque Marocaine du Commerce Extérieur (BMCE).
On 20 November 2013 BMCE became the first private Moroccan issuer to take advantage of the international credit markets by launching an inaugural US$ 300 million Eurobond.
Accessing the Eurobond markets represents a major step for Moroccan corporations and financial institutions, and should contribute to diversifying their funding sources as well as increasing liquidity in the market.
By acting as an anchor investor in the issue the EBRD played an essential role in supporting BMCE during the placement of the bond.
In addition, BMCE will increase the aggregate size of its loan portfolio to small and medium-sized enterprises (SMEs) in Morocco by more than an equivalent amount to that invested by the EBRD.
