Morocco’s national railway operator, ONCF, has returned to the capital market with a new green bond issue valued at 2 billion dirhams following the success of its previous green bond issuances launched since 2022.
The financing will support the transformation of Morocco’s railway system by 2030. Key projects include the extension of the Kenitra–Marrakech high-speed rail line, the development of local rail services in the Rabat, Casablanca and Marrakech regions, and a major programme to acquire next-generation rolling stock.
The issue attracted strong investor interest, with subscriptions reaching nearly five times the amount offered, reflecting investor confidence in ONCF’s strategy and sustainable development agenda.
With this third certified green bond issuance, ONCF has raised a cumulative total of 5 billion dirhams in green bond financing since 2022, reinforcing its position as a key issuer in Morocco’s sustainable finance market.
CDG Capital supported the transaction as financial advisor and placement entity, while the Société Nationale de Garantie et du Financement de l’Entreprise provided a guarantee for the operation.
