OCP S.A announced today that it has successfully completed a US $300 million tap of its existing US $300 million 30-Year notes priced at a yield of 6.950%, bringing the total aggregate principal amount to US $600 million. The original notes were issued on April 16, 2014 at an issue price of 6.875% and formed part of a broader offering, whereby OCP also issued US $1.25 billion of 10-Year notes at 5.625%. The US $300 million reopening was 3.5 times oversubscribed.
The extension of the issue was in response to strong investor demand on the 30 year tranche and underscores the investment community’s confidence in OCP’s strategy and ability to create value.
OCP intends to use the net proceeds of the offering for its capital expenditure program and general corporate purposes. The offering is expected to close on May 8th, 2014, subject to customary closing conditions.
About OCP:
OCP Group is the largest global producer of phosphate rock and phosphoric acid, and a leading global fertilizer player, backed by almost a century’s production history. The Group has exclusive access to Morocco´s phosphate rock reserves, the largest global reserve base according to the USGS. The Group is a leading low-cost producer of phosphate rock, and it has become a leading player across the whole phosphate value chain. The Group employs approximately 23.000 people and generated 5.5 billion dollars in revenue in 2013.
For more information visit: www.ocpgroup.ma
This communication is not an offer of securities for sale in the United States or any other jurisdiction where to do so would be unlawful. The Company has not registered, and does not intend to register, any portion of the Notes in any of these jurisdictions and does not intend to conduct a public offering of securities in any of these jurisdictions.
In particular, the Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in compliance with any applicable state securities laws. The Notes are only being offered and sold to qualified institutional buyers (QIBs) in the United States as defined in and pursuant to Rule 144A and outside the United States pursuant to Regulation S under the U.S. Securities Act. Prospective purchasers are hereby notified that the sellers or issuers of the Notes may be relying on the exemption from the registration requirements of the Securities Act provided by Rule 144A of the Securities Act or another available exemption from registration. No public offering of the Notes will be made in the United States.
This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom; or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (iii) to high net worth entities and other persons falling within Article 49(2)(a) to (d) of the Order; or (iv) persons to whom it may otherwise be lawfully communicated in accordance with the Order (all such persons in (i), (ii), (iii) and (iv) above together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. In member states of the European Economic Area, this announcement is directed only at persons who are "qualified investors" within the meaning of article 2(1)(e) of Directive 2003/71/EC (the "Prospectus Directive"). This announcement is an advertisement and is not a prospectus for the purposes of applicable measures implementing the Prospectus Directive.
In connection with the offer or sale of the securities referred to herein, certain of the managers may over-allot the securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. Any stabilisation action or over allotment will be conducted by such manager(s) in accordance with all applicable laws and rules.
