Stocks Market
OCP Tops Up Hybrid Bond Offering with Additional $149.9 Million Raise
OCP S.A. has successfully raised an additional $149.9 million on its hybrid bond tranche initially issued in April 2026, bringing the total to $649.9 million. The subordinated perpetual bonds, priced at a fixed rate of 7.3682%, will fund the group's general corporate needs and were placed via J.P. Morgan Securities on Euronext Dublin.
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OCP Expands Hybrid Bond Facility to Nearly $650 Million
OCP S.A. has concluded an upsizing of its hybrid bond issuance, raising a further $149.9 million on the tranche originally launched in April 2026. The initial $500 million offering now stands at $649.9 million after the additional placement.
The transaction was finalized on September 14 and settled on September 21, 2026. The instruments are subordinated perpetual bonds carrying a fixed coupon of 7.3682% until the first rate reset date on July 22, 2036. They include a redemption option and the right to defer interest payments.
Structure and Listing
The new bonds mirror the terms of the original tranche and will merge into a single series from November 2, 2026. They are listed on the Global Exchange Market of Euronext Dublin. J.P. Morgan Securities plc acted as the initial purchaser.
Use of Proceeds
The proceeds supplement OCP's broader $1.5 billion hybrid bond issuance from April 2026, which was structured in two tranches. The group stated that the funds raised will be allocated to general corporate purposes.