Wafasalaf, leader in consumer credit, has just issued a subordinated bond of 200 million dirhams (MDH), with a maturity of 7 years.
The loan, which received visa from the Moroccan Capital Market Authority (AMMC), consists of two unlisted tranches. The subscription period runs from December 20 to 24, 2024 inclusive.
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For tranche A, the facial interest rate is fixed, with reference to the reference rate curve of the secondary market for Treasury bills with a maturity of 7 years as published by Bank Al-Maghrib on December 13, 2024, i.e. 3.14%, increased by a risk premium of 70 basis points (bps), or 3.84%.
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Concerning tranche B, the facial interest rate is adjustable annually. For the first year, this rate is the full 52-week rate (monetary rate) determined with reference to the reference rate curve of the secondary market for Treasury bills as published by Bank Al-Maghrib on December 13, 2024, i.e. 2.78%, increased by a risk premium of 60 bps, or 3.38%.
Morocco
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