Wednesday , November 13 2019
Home / morocco / Agricultural Credit: Visa issued by AMMC to issue a bond loan of 850 million dirhams

Agricultural Credit: Visa issued by AMMC to issue a bond loan of 850 million dirhams



The Moroccan Capital Markets Authority (AMMC) aimed on Tuesday to issue Crédit Agricole in Morocco with a perpetual subordinate bond with a mechanism to absorb losses and cancel the value of payment coupons of 850 million dirhams.

This transaction involves the issuance of 8,500 subordinated securities with a par value of 100,000 MAD, adding that these perpetual securities will be issued at a nominal rate of 5.78% in the first 10 years (revisable every 10 years). ) in unlisted parcel A and at an annual rate of 5.11% in parcel B.

In case of early repayment, the full or partial repayment of the capital after 5 years can only be done at the issuer's initiative, with at least 5 years' prior notice and after agreement Al-Maghrib Bank, says AMMC.

The subscription period for this bond issue runs from October 22 to 24, inclusive.


Source link