The Moroccan Capital Market Authority (AMMC) has approved the prospectus relating to the issue of a subordinated bond of Bank Of Africa (BOA). The maximum amount in principal of the operation amounts to 1 billion DH, i.e. 61.89 billion Fcfa.

The operation aims at "reinforcing the current regulatory capital and, consequently, strengthening the solvency ratio of Bank Of Africa, financing the organic development of the bank in Morocco".velopment of the bank in Morocco and internationally and to anticipate the various regulatory evolutions in the countries of presence", indicates the bank. The maximum amount in principal of the operation is divided into two tranches (A and B) with a maturity of 10 years each, unlisted on the Casablanca Stock Exchange, with in fine of the principal, with a ceiling of MAD 1 billion and a nominal value of MAD 100,000 each. The total amount allocated to the two tranches A and B must not exceed in any case the sum of MAD one billion. Tranche A will be at a fixed rate while tranche B will be at a variable rate revisable annually.