September 24, 2018 / 10:15 AM / 3 months ago

Morocco's finance hub issues 335 mln dirhams green bond

RABAT, Sept 24 (Reuters) - Morocco’s finance and business hub Casablanca Finance City (CFC) said on Monday it had raised 335 million dirhams ($ 35.8 mln) via a green bond to finance its environmentally friendly real estate programme.

CFC said it received the authorisation of bourse regulator AMMC for the 15-year bond.

“The issuance was completed through a private placement with the largest institutional investors of the Kingdom,” it said.

Morocco’s government began developing Casablanca Finance City in 2010 as a banking centre for Africa.

Financial companies, professional services firms and regional headquarters of multinationals can become members of the centre, receiving tax concessions and other benefits such as fast-track visa procedures for staff. (Reporting by Ahmed Eljechtimi; Editing by Kirsten Donovan)

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