Green Finance: Maghreb Titrisation and CDG Capital Launch Morocco's First Green Securitization of Commercial Receivables

Maghreb Titrisation has arranged and managed an innovative operation that led to the creation of the "FT NOVUS GREEN PACK" fund. This fund is structured to acquire commercial receivables ceded by GPC Papier et Carton. On July 17, 2025, the Moroccan Capital Market Authority (AMMC) issued visa number VI/TI/005/2025 for the Information Document related to the "FT NOVUS GREEN PACK" Securitization Fund. CDG Capital, as the lead placement agent, played a crucial role in the success of this operation by placing the fund with several Collective Investment Schemes (OPCVM), demonstrating strong market interest in this type of structured financing aligned with ESG criteria. This operation is also a first in Morocco for Green Bonds backed by commercial receivables. The FT NOVUS GREEN PACK fund is certified as green, in accordance with a Green Bond Framework developed by GPC with technical support from CDG Capital and in collaboration with FSD Africa. This framework aligns with international standards for green finance. The transfer of receivables by GPC, as the initiating entity, took place on July 31, 2025. The resources raised will finance the issuer's operating cycle within an environmentally compliant framework.