DLA Piper has advised Aradei Capital S.A. (Aradei) with the issuance of a secured bond in a public offering of MAD600 million in five tranches.

Aradei is the real estate investment company of Label'Vie. It specializes in retail in Morocco and works in partnership with the French group Carrefour. The operation will enable Aradei to diversify its external financing, to have an additional leverage ratio at an optimized cost and to finance its investment program over the coming years.

In the prospectus approved on 16 October by the stock exchange regulator, the Moroccan Capital Market Authority (AMMC), Aradei successfully closed its bond issuance of up to 8.99 billion dirhams (approximatively 780 million euros), oversubscribed 15 times.

The DLA Piper team advised Aradei on all the legal aspects related to the transaction and drafted all documentation.

The team of DLA Piper was led in Casablanca by Christophe Bachelet, Country Managing Partner in charge of corporate aspects, Marie-Michèle Banzio, associate (Corporate) and in Paris by Fabrice Armand, partner (Finance) and Dibril Sako, associate (Finance).