BCP : The AMMC granted visa for a 2 billion subordinate bond issue
The AMMC has just authorized a bond issue of the BCP for a maximum amount of 2 billion dirhams.
Through this subordinated issue, BCP's primary objective is to fund its development without changing its current regulatory equity capital. BCP also claims that it want to strengthen the current regulatory equity capital and, as a result, strengthen its solvency ratio.
In detail, the BCP plans to issue 20,000 of 100.000 par value subordinated bonds. The maximum amount of the transaction is 2 billion dirhams with a maturity of 7 years, yearly reviewable rate and the bond is not listed in the Casablanca Stock Exchange.