Successful Bond Issuance by CFG Bank
CFG Bank has announced the successful completion of its MAD 500 million subordinated bond issuance, which was fully allocated to Tranche A. This tranche features a fixed interest rate and a maturity period of 10 years, with the principal repayment scheduled to occur at maturity.
The issuance received approval from the Moroccan Capital Market Authority (AMMC) on December 12, 2025. Notably, Tranche B, which offered an annually adjustable rate, was not utilized in this operation.
Tranche A carries a nominal interest rate of 3.69%. This rate is aligned with the 10-year benchmark government bond rate published by Bank Al-Maghrib on December 17, 2025, plus a risk premium of 70 basis points.
The entire issuance was subscribed exclusively by mutual funds (OPCVM), which absorbed the full amount offered. The bonds, each with a nominal value of MAD 100,000, are unlisted and traded over-the-counter.
Through this subordinated bond issuance, CFG Bank aims to bolster its regulatory capital and improve its solvency ratio, while also financing the expansion of its operations.