BOA: AMMC approves prospectus relating to the issue of a bond issue
Casablanca – The Moroccan Capital Market Authority (AMMC) approved, on Wednesday, under reference VI/EM/017/2024, a prospectus relating to the issue by Bank Of Africa (BOA) of a perpetual subordinated bond with a loss absorption mechanism and cancellation of coupon payments.
This loan is composed of two unlisted tranches “A” and “B”, with a ceiling of 1 billion dirhams (MMDH) and a perpetual maturity, indicates the AMMC in a press release, noting that the subscription period runs from June 19 to 21, 2024 inclusive.
For tranche “A”, the nominal interest rate will be determined, for the first 5 years, with reference to the 5-year rate, determined from the reference rate curve of the secondary market for 5-year Treasury Bills (BDT), as published by Bank Al Maghrib on June 13, 2024, increased by a risk premium.
Regarding the “B” tranche, the nominal interest rate will be determined, for the first year, with reference to the full 52-week rate determined from the reference rate curve of the secondary market for Treasury Bills (BDT), as published by Bank Al-Maghrib on June 13, 2024, increased by a risk premium.
The AMMC specifies that the risk premium for the “A” tranche is between 220 basis points (bps) and 230 bps, while that of the “B” tranche is between 210 bps and 220 bps.
2024-09-02 20:13:35