Maroc Telecom raises $330 million in bond issuance on local market

RABAT: Maroc Telecom, Morocco’s largest telecoms operator, has raised 3 billion dirhams ($330 million) in its first private bond issuance on the domestic market, it said on Tuesday.

The bond, with a two-year maturity and bullet repayment, was issued at a fixed rate of 2.37%, the company said in a statement.

The money will help the company refinance a part of its debt and support its investments in 5G and fiber optic development, it said.