2023-12-16 18:56:46
By The Economist | 12/16/2023 – 7:56 p.m. | Share
The loan and credit specialist, Wafasalaf, will issue a subordinated bond on the market. The operation, which received approval from the Moroccan Capital Market Authority (AMMC), concerns a total amount of 250 million DH, split into two unlisted tranches. The maturity is 7 years and the nominal value of 100,000 DH. The facial interest rate is fixed for tranche A and is revisable for tranche B. The subscription period runs from December 22 to 26 inclusive.
This subordinated bond loan will allow the AWB subsidiary to strengthen its current regulatory capital and, consequently, strengthen the solvency ratio. In addition, it will strengthen its stable resources and harmonize the average maturity of its financing sources with the average duration of outstanding loans. The operation also aims to diversify sources of financing and optimize its financing costs in addition to financing the development and growth of the company.
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