Crédit Agricole du Maroc (CAM) concluded 2024 by issuing subordinated bonds worth 1 billion dirhams ($100 million), reflecting strong market confidence in the institution.
The operation, finalized on December 31, 2024, was structured into two distinct tranches targeting qualified investors.
The bond issuance was equally divided into two tranches of 500 million dirhams ($50 million) each.
The first tranche comprises unlisted subordinated bonds with revisable rates and a 10-year maturity, while the second includes unlisted subordinated bonds with fixed rates and the same maturity.
The funds will be allocated to support various economic sectors, with a particular emphasis on agricultural and rural development initiatives, while simultaneously strengthening the bank’s regulatory capital base.
This financial operation comes six months after a significant ownership transition in June 2024, when France’s Crédit Agricole SA finalised its exit from the Moroccan market by selling its remaining 15% stake in Crédit du Maroc to the Moroccan group Holmarcom.
This final divestiture followed an earlier transaction in December 2022, when Crédit Agricole SA sold a 63.7% stake to Holmarcom, completing an agreement first announced in April 2022.
The full withdrawal was executed after securing necessary regulatory approvals and completing the autonomy process for Crédit du Maroc, as stated in Crédit Agricole SA’s official press release from Montrouge, France.
MK/sf/te/lb/as/APA