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 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.