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Attijariwafa Bank Successfully Closes Two Bond Issues

The group recorded a global amount of the recognized bids that amounted to MAD 1.20 billion ($129.31 million).

03 Jan 2022

Attijariwafa Bank, Morocco’s leading commercial and financial banking group, has announced to have successfully closed its two bond issues launched on December 21 last year.

Attijariwafa Bank said in a statement that the first operation concerning the issue of a subordinated bond of an amount of MAD 500 million ($53.87 million) was subscribed 2.8 times.

The global amount of the recognized bids amounted to MAD 1.39 billion ($149.78 million), the bank added. Of this, the unlisted tranche C, with a 7-year maturity and a fixed rate of 2.66%, was subscribed up to MAD 840 million ($90.51 million), with a satisfaction rate of 59.5%.

Tranche D, unlisted, with a 7-year maturity and an annually revisable rate, was subscribed up to MAD 550 million ($59.26 million), but was not retained.

As for the second operation, which concerned an issue of perpetual subordinated bonds with a loss absorption mechanism and cancellation of coupon payments for a global amount of MAD 500 million ($53.87 million), it was subscribed 2.4 times.

The global amount of the recognized bids amounted to MAD 1.20 billion ($129.31 million). Tranche A, unlisted, with a revisable rate every 10 years of 4.58%, was subscribed for an amount of MAD 1.10 billion ($118.53 million), with a satisfaction rate of 45.3%.

Tranche B, unlisted, with an annually revisable rate, was subscribed up to MAD 100 million ($10.77 million), but was not retained.

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