The total amount allocated to the two tranches must in no case exceed the sum of 1 billion dirhams. If thebond issue is not fully subscribed, the amount of the issue will be limited to the amount actually subscribed. Subscription to this issue is reserved for investors qualified under Moroccan law in order to facilitate the management of subscriptions on the primary market. “It remains understood that any investor wishing to acquire the bonds will be able to obtain them on the secondary market,” it is underlined in the note of the operation.
The subscription period for this issue will begin on June 21, 2024 and close on June 25, 2024 inclusive. The benefit date is set for June 28, 2024. Through this issue, Attijariwafa bank aims to strengthen its current regulatory capital and, consequently, improve its solvency ratio. The group also aims to finance the organic development of the bank At Morocco et al’internationalwhile anticipating the various regulatory developments in the countries where it is present.
This issue, decided on June 11, 2024 by the bank’s board of directors, is part of the program authorized by the ordinary general meeting of June 29, 2020, allowing Attijariwafa bank to raise up to 10 billion dirhams. To date, several issues have already been carried out in this context, with a current balance of 3.55 billion dirhams after this issue.
As a reminder, thesubordinated bond is distinguished from the classic obligation because of the rank of claims contractually defined by the subordination clause. In the event of liquidation of the issuer, the subordination clause conditions the repayment of the bond on the payment of all other traditional, privileged or unsecured debts.
