In Morocco, CAM’s $100 million bond issue, divided into two tranches of $50 million, balancing fixed and revisable rates over 10-year maturities, will finance various economic sectors, including agricultural development. and rural.
Crédit Agricole du Maroc (CAM) closed the year 2024 with an issue of subordinated bonds amounting to 1 billion dirhams ($100 million), demonstrating the market’s strong confidence in the institution.
The transaction, closed on December 31, 2024, was structured into two distinct tranches targeting qualified investors.
The bond issue was divided equally into two tranches of 500 million dirhams ($50 million).
The first consists of unlisted subordinated bonds with an adjustable rate and a maturity of 10 years, while the second consists of unlisted subordinated bonds with a fixed rate and an identical maturity.
These funds are aimed at financing various economic sectors, with a particular focus on agricultural and rural development initiatives, while simultaneously strengthening the regulatory capital base of the bank.
This financial transaction comes six months after a major ownership transition in June 2024, when Crédit agricole SA de France finalized its exit from the Moroccan market by selling its remaining 15% stake in Crédit du Maroc to the Moroccan group Holmarcom.
This final sale follows a previous transaction in December 2022, when Crédit Agricole SA sold a 63.7% stake to Holmarcom, marking the completion of a deal first announced in April 2022.
The complete withdrawal was carried out after obtaining the necessary regulatory authorizations and finalizing the process of empowerment of Crédit du Maroc, as indicated in the official press release of Crédit Agricole SA from Montrouge, France.
MK/SF/te/APA
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