AMMC has approved the issuance of a perpetual subordinated bond with loss absorption and coupon cancellation mechanism by BMCI. This mechanism, favored by financial institutions and large public organizations, will allow BNP Paribas’ subsidiary to raise MAD 750 million from qualified investors.

The operation will include three tranches, which will be annually revisable, every five years, or every ten years, and will be accompanied by risk premiums ranging between 240 and 270 basis points.

The primary objectives of the operation are, first, to strengthen the bank’s current regulatory capital and, therefore, increase BMCI’s solvency ratio, particularly the Tier One Ratio, and, second, to consolidate the bank’s business development.

The subscription period is open from February 13 to February 15, 2023.

Red Med Corporate Finance is assisting BMCI in the operation.

In accordance with Bank Al-Maghrib’s Circular 14/G/2013 on the calculation of regulatory capital, the funds collected through this operation will be classified as additional Tier 1 capital.

AMMC has approved the issuance of a perpetual subordinated bond with loss absorption and coupon cancellation mechanism by BMCI. This mechanism, favored by financial institutions and large public organizations, will allow BNP Paribas’ subsidiary to raise MAD 750 million from qualified investors.

The operation will include three tranches, which will be annually revisable, every five years, or every ten years, and will be accompanied by risk premiums ranging between 240 and 270 basis points.

The primary objectives of the operation are, first, to strengthen the bank’s current regulatory capital and, therefore, increase BMCI’s solvency ratio, particularly the Tier One Ratio, and, second, to consolidate the bank’s business development.

The subscription period is open from February 13 to February 15, 2023.

Red Med Corporate Finance is assisting BMCI in the operation.

In accordance with Bank Al-Maghrib’s Circular 14/G/2013 on the calculation of regulatory capital, the funds collected through this operation will be classified as additional Tier 1 capital.