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

This loan is composed of five tranches (two listed and three unlisted) with a ceiling of 500 million dirhams (MDH) and a maturity of 7 years, each, says the AMMC in a statement, 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 given to tranches E and F (fixed rate, depreciable), then tranches A and C (fixed rate) and tranches B and D (rate revisable annually), said the same source.

And to add that the prospectus of this bond issue consists of AWB's registration document registered by the AMMC on 10 June 2020 under the reference EN/EM/004/2020, of 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.