| Project Detail |
Location:
Morocco
Project number:
46878
Business sector:
Agribusiness
Notice type:
Private
English-language PSD published:
04 Dec 2024
Project Description
This PSD relates to a historical Bank project approved some years ago, and does not represent a new approval, or allocation of new funds. Disclosure of this PSD was deferred in accordance with the transparency framework in place at the time, but due to an administrative oversight, was not subsequently disclosed
In 2014, the Board of Directors approved EBRD participation in a bond issuance programme for up to MAD 125 million (EUR 11 million) for the subscription, in MAD, to a privately placed bond issued by Zalagh Holding S.A. (the Company).
Project Objectives
The EBRD’s participation in the Company’s planned series of bond issuances were to enable the Company to finance a modernisation and expansion programme in Morocco, fund additional working capital needs related to this programme, and restructure its balance sheet. Further, it presented an opportunity for a Moroccan corporate bond to receive a credit rating from an international ratings agency. |
