The Moroccan Capital Market Authority (AMMC) announced that it had approved, on Thursday, a prospectus relating to the issuance by Attijariwafa Bank (AWB) of a perpetual subordinated bond with a mechanism for absorbing losses and cancelling the payment of coupons.

This loan is composed of five installments (two listed and three unlisted) with a ceiling of 500 million dirhams (MDH) and a maturity of 7 years, each, the AMMC said in a press release, noting that the subscription period extends from December 18 to December 22, 2020 inclusive.

As for the allocation method, it consists of a French-style auction with priority to brackets E and F (at a fixed rate, depreciable), then to brackets A and C (at a fixed rate) and to brackets B and D (at a rate that can be adjusted annually), the same source reports.

And to add that the prospectus for this bond consists of the AWB reference document registered by the AMMC on 10 June 2020 under the reference EN/EM/004/2020, the update N 1 of the reference document registered by the AMMC on 10 December, under the reference EN/EM/026/2020, and the transaction note.