Crédit du Maroc has successfully closed its perpetual subordinated bond issuance, raising a total of MAD 500 million (approximately $48.5 million).
The operation recorded an impressive subscription rate of 152%, reflecting strong interest from institutional investors and their confidence in the bank’s financial stability.
A total of 25 institutional investors, primarily collective investment schemes (OPCVMs), participated in this bond issuance. Most investors favored the annually revisable Tranche B, showcasing the competitive nature of Crédit du Maroc’s offer in the financial market.
For Tranche A, the interest rate has been set between 5.57% and 5.67% for the first 10 years, based on a reference rate of 3.32%, plus a risk premium of 225–235 basis points. Tranche B, which is revisable annually, offers a coupon rate ranging from 4.78% to 4.88% in the first year, calculated using a 52-week monetary rate of 2.73%, plus a risk premium of 205–215 basis points.
This successful issuance aligns with Crédit du Maroc’s strategic development goals and underscores its ability to attract institutional funds. The strong demand and confidence shown by investors reinforce the bank’s prominent position in the Moroccan financial market.
In October, Holmarcom Finance Company (HFC) launched a strategic initiative to increase Crédit du Maroc’s presence in the Moroccan financial sector. HFC is offering the public and employees the opportunity to acquire shares in Crédit du Maroc.
The operation involves the sale of 1,229,577 shares at MAD 850 (approximately $85) per share, amounting to a total of MAD 1.03 billion (approximately $100 million). This initiative aims to enhance the bank’s free float on the stock exchange, attract new investors, and bolster market transparency.
By aligning with its strategic vision, HFC is committed to strengthening Crédit du Maroc’s market presence while maintaining high standards of governance and transparency. These initiatives collectively reinforce the bank’s prominent role in Morocco’s dynamic financial market.
