Moroccan electricity and water utility company ONEE plans to raise MAD 1.5 billion (US$160m) via a securitization deal.
Moroccan financial markets watchdog AMMC has cleared the transaction at the end of September.
Book building will start on October 12 and close the following day. ONEE will sell securities with an interest rate of 2.98% to 3.08% and repay them in one year.
This would be the fifth such operation for ONEE which has raised MAD 5.3bn (US$56.4m) since 2013. The utility is implementing a securitization programme targeting MAD 10 billion (US$1.06m) by 2023 in a move to deal will working capital issues.
