Crédit du Maroc is preparing to issue a loan of 750 million dinars. This transaction involves the issuance of 7,500 subordinated bonds with a nominal value of 100,000 MAD.
The maturity of the loan is 10 years, and repayment is fine. The subscription period is on from 5 to 7 December 2018. The main objective of this fundraising is to strengthen the bank's capital base in order to support the development of its business, in particular by increasing the capacity to distribute loans with respect to the solvency ratio.
All tranches (A, B and C) have been fully refunded and have no warranty. The total amount of transaction to be allocated in different tranches must not exceed 750 MDH.
The distribution will be done according to a method known as French with priority given pieces A and C.
In the case of normal redemption: a subordinated bond will be repaid at the end of the principal, subject to prior redemption.
In the event of a merger, spin-off or partial contribution of Crédit du Maroc funds during the duration of the loan and resulting in a universal transfer of funds to a separate legal entity, the rights and obligations related to subordinated bonds will automatically be transferred to the replaced legal entity in the rights and obligations Crédit du Maroc.
The repayment of capital in the event of liquidation Credit du Maroc is subordinate to all other debts.
In the event of prepayment, Crédit du Maroc will refrain from the early purchase of subordinated bonds subject to this issue during the term of the loan.
For more details, see Information note.
Crédit du Maroc: a credit of 750 MDH last modified: November 28, 2018 by