Crédit Agricole du Maroc issues debt prior to increasing its equity capital (700 million-1 billion dirhams)
Managers at the publicly owned bank, which is focused on providing support to customers in rural communities, have made strengthening its equity capital a priority.
Someone shares this article with you
▪ Crédit Agricole du Maroc issues debt prior to increasing its equity capital (700 million-1 billion dirhams)
▪ Managers at the publicly owned bank, which is focused on providing support to customers in rural communities, have made strengthening its equity capital a priority.
▪ https://www.africabusinessplus.com/en/801285/le-credit-du-maroc-sendette-avant-daugmenter-son-capital-700-millions-1-milliard-dh/
Crédit Agricole du Maroc (CAM) has taken advantage of the fall in bond market rates and pushed ahead with two issues totalling 1.3bn dirhams in the space of a few weeks. The first, completed on 24 October, concerned 850m dirhams ($88.2m) in perpetual subordinated bonds. Then, on 22 November, the Moroccan Financial Markets Authority (l’Autorité marocaine des marchés des capitaux – AMMC) gave its approval for the public bank to raise an additional 450m dirhams in subordinated bonds. The financial advisor and coordinator for these two operations was investment bank Capital Trust; legal assistance was provided by Karim Mouttaki at Mouttaki Partners. “It is true that these are two types of bond issues, each with its own specific features, but the most important aspect is the total amount which has been raised to meet a clear need,” explained a consultant at one of the firms advising CAM on the two issues.
This article is for subscribers only. To read more, subscribe with a special offer.
You are connected to your Jeune Afrique account but your Africa Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.
Any questions ? contact us
Please get in touch with the Africa Business+ team if you require any further information.
Email us : customer.care@africabusinessplus.com
Add AB+ to your home screen
1. Click on 
at the bottom of your screen.
2. Click on 
to add AB+ on the home screen.
3. Enter the name of the shortcut and confirm.