Deals - Oct 17, 2022

Asafo & Co. advised, alongside Red Med Capital, Assifill Buildings, a wholly owned subsidiary of SOMAGEC, in its 300 million Dirham issuance of project bonds to finance two public procurement projects led by Assifill Buildings.

Assifill Buldings’ debt issuance aims to finance two of its public procurement projects. Assifill Buldings’ project bond issuance is a major step forward in the development of capital markets in Morocco. Projects bonds open up an alternative debt funding avenue and allow businesses to diversify their sources of financing.

The Asafo & Co. team in Casablanca advising Assifill Building was led by partner Benoit de Monval who was assisted by Cyril Kalfat (associate).