The Moroccan Capital Market Authority (AMMC) has announced that it has approved, under reference VI/EM/016/2021, a prospectus relating to the issue by Bank Of Africa (BOA) of a perpetual subordinated bond loan with a mechanism for absorbing losses and canceling coupon payments.

This loan is made up of two unlisted tranches with a ceiling of 1 billion dirhams, each, specifies the AMMC in a press release, noting that the subscription period runs from September 06 to September 09, 2021 inclusive. Regarding the allocation method, it consists of a French auction with priority to tranche A (at a rate that can be revised every 5 years), then to tranche B (at a rate that can be revised annually), notes the same source.