Aradei Capital has increased the interest rate on two parts of its private bond issued in July 2023. The new rate will be 3.40% from 21 July 2026 and applies to Tranches B and D.
The change is part of the bond’s original terms. Both tranches have variable interest rates, which are reviewed every year on the anniversary of the issue date.
The new rate is based on the yield of Morocco’s 52-week Treasury bills, published by Bank Al Maghrib, plus a fixed risk premium of 120 basis points.
The Treasury bill yield stood at 2.20% on 14 July 2026. Adding the 1.20 percentage point premium brings the final coupon rate to 3.40%.
Tranche B has a five-year maturity, while Tranche D matures after seven years. The revised rate will apply to both tranches from 21 July.
The annual review is a standard feature of floating-rate bonds. It allows the interest paid to investors to move in line with changes in market interest rates, while following the terms agreed when the bonds were issued.
