The Moroccan Capital Market Authority (AMMC) has approved the prospectus for Wafasalaf’s subordinated bond issuance. The prospectus comprises a 2024 financial year reference document and an offering document, and covers two unlisted tranches with a 7-year maturity and a ceiling of MAD 200,000,000 each, open for subscription from 23 to 25 June 2025. Tranche A pays a fixed rate set as the secondary 7-year Treasury bills yield curve published by Bank Al-Maghrib on 20 June 2025 plus a 70 basis point risk premium. Tranche B has an annually revisable rate; for the first year, the nominal rate is set as the 52-week rate derived from the secondary Treasury bills yield curve published by Bank Al-Maghrib on 20 June 2025 plus a 60 basis point risk premium. Allocation will be via a prorated auction and the securities will be tradable over the counter; the prospectus is available from Wafasalaf, Attijari Finances Corp., and on the AMMC website.
Moroccan Capital Markets Authority 2025-06-16
Moroccan Capital Market Authority approves prospectus for Wafasalaf subordinated bond issue with two unlisted MAD 200m tranches
The Moroccan Capital Market Authority approved Wafasalaf's prospectus for a subordinated bond issuance, comprising two unlisted tranches with a 7-year maturity and a ceiling of MAD 200,000,000 each. Tranche A offers a fixed rate based on the 7-year Treasury bills yield plus a 70 basis point premium, while Tranche B has an annually revisable rate starting with the 52-week Treasury bills yield plus a 60 basis point premium. The bonds will be allocated via a prorated auction and tradable over the counter.