The Moroccan Capital Market Authority has approved the prospectus for Attijariwafa Bank’s issuance of subordinated bonds. The approved documentation comprises a reference document for the 2024 financial year and an offering document. The issue is structured in two unlisted tranches (A and B), each capped at MAD 1,500,000,000 with a seven-year maturity. Tranche A carries a fixed rate referenced to the secondary seven-year Treasury bills yield curve to be published by Bank Al-Maghrib on 20 June 2025 plus a 50 basis point risk premium, while Tranche B has an annually revisable rate referenced to the full 52-week rate (monetary policy rate) determined with reference to the secondary Treasury bills yield curve to be published by Bank Al-Maghrib on 20 June 2025 plus a 45 basis point risk premium; allocation will be via a pro rata auction and the securities will be tradable over the counter. Subscriptions are scheduled for 23 to 25 June 2025 (inclusive), and the prospectus is made available through Attijariwafa Bank, Attijari Finances Corp., and the AMMC website.
Moroccan Capital Markets Authority 2025-06-16
Moroccan Capital Market Authority approves Attijariwafa Bank prospectus for two unlisted subordinated bond tranches capped at MAD 1.5bn each
The Moroccan Capital Market Authority approved Attijariwafa Bank's prospectus for issuing subordinated bonds in two unlisted tranches, each capped at MAD 1.5 billion with a seven-year maturity. Tranche A offers a fixed rate tied to the seven-year Treasury bills yield curve plus a 50 basis point premium, while Tranche B offers an annually revisable rate tied to the 52-week rate plus a 45 basis point premium. The bonds will be allocated via a pro rata auction and tradable over the counter.