The Attijariwafa Bank banking group announced that it had successfully closed its two bond issues launched on December 21.
Thus, the first operation relating to the issue of a subordinated bond loan in the amount of 500 million dirhams (MDH) was subscribed 2.8 times, indicates the Group in a press release. In detail, the total amount of bids recognized as valid amounted to 1.39 billion dirhams (MMDH). Tranche C, unlisted, with a maturity of 7 years with a fixed rate of 2.66%, was subscribed for up to MAD 840 million, with a satisfaction rate of 59.5%. Tranche D, unlisted, with a maturity of 7 years with an annual revisable rate, was, for its part, subscribed for up to MAD 550 million, but was not retained.
For the second operation, which concerns an issue of perpetual subordinated bonds with a mechanism for absorbing losses and canceling payment of coupons for a total amount of MAD 500 million, it was subscribed 2.4 times. The total amount of bids recognized as valid stood at 1.204 billion dirhams.
Tranche A, unlisted, with a rate revisable every 10 years of 4.58%, was subscribed for 1.104 billion dirhams, with a satisfaction rate of 45.3%. Tranche B, unlisted, with an annual revisable rate, was subscribed for up to MAD 100 million, but was not retained.
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Attijariwafa bank Tunisie
Attijariwafa Bank Sees Overwhelming Success in Dual Bond Issues
In a significant development, the Attijariwafa Bank has announced the successful closure of its two bond issues, launched on December 21. The move has garnered substantial interest from investors, with both issues being oversubscribed.
The first operation, involving a subordinated bond loan of 500 million dirhams (MDH), was subscribed 2.8 times, with total bids amounting to 1.39 billion dirhams (MMDH). This clearly indicates a strong appetite for the Attijariwafa Bank’s debt instruments. Of the two tranches on offer, Tranche C was subscribed for up to MAD 840 million, achieving a satisfaction rate of 59.5%. In contrast, Tranche D, with an annual revisable rate, failed to gain traction and was subsequently not retained.
The second operation, focusing on perpetual subordinated bonds with a unique mechanism for absorbing losses and canceling coupon payments, also saw a robust response from investors. With a total amount of 500 million dirhams, the issue was subscribed 2.4 times, with bids totaling 1.204 billion dirhams. The more popular Tranche A, boasting a rate revisable every 10 years of 4.58%, garnered subscriptions worth 1.104 billion dirhams, translating to a satisfaction rate of 45.3%. Conversely, Tranche B’s annual revisable rate did not resonate with investors, resulting in its non-retention.
These developments underscore the confidence that investors have in the Attijariwafa Bank’s financial health and prospects. The successful closure of these bond issues is expected to bolster the bank’s financial standing and enable it to further diversify its operations. As the Attijariwafa Bank continues to navigate the complex world of finance, its recent success is likely to have a positive impact on its future endeavors.
