Stocks Market
Morocco Treasury Raises 1.5 bn MAD in June 2 Bond Auction, Oversubscribed by 2.3 bn
The Moroccan Treasury announced that its June 2 bond auction attracted 3.43 bn MAD of orders, of which 1.5 bn MAD were allotted to investors. The issuance consisted of 52‑week Treasury bills worth 1 bn MAD at 2.248 % and 2‑year notes worth 500 m MAD at 2.37 %, with settlement scheduled for the following Monday.
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Overview of the June 2 Treasury Auction
The Moroccan Treasury and External Finance Directorate (DTFE) reported that the latest government‑bond auction attracted a total of 3.43 bn MAD in orders, of which 1.5 bn MAD was allocated to investors.
Instruments and Yields
- 52‑week Treasury bills – 1 bn MAD issued at an annual yield of 2.248 %
- 2‑year Treasury notes – 500 m MAD issued at an annual yield of 2.37 %
The allocated securities will settle on Monday, providing the Treasury with fresh financing to meet its short‑term cash‑flow needs.
Implications
The strong oversubscription (approximately 2.3 bn MAD above the target) signals continued investor confidence in Moroccan sovereign debt and may support a stable or slightly more favorable environment for future issuances.