The Kingdom of Morocco, rated Ba1/BBB-/BBB-, has hired BNP Paribas, Commerzbank and Natixis to lead the issuance of a euro bond, according to a source away from the deal.

The banks declined to comment.

The sovereign was last in the international bond market in May, when it raised $750 million through a reopening of its 2022 and 2042 notes.

Those bonds were originally issued last December, raising $1.5 billion between them.

Morocco last raised euros in October 2010, when it priced a one billion euro 10-year bond.

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