Tunisia’s Enda Tamweel to issue TND15 mln bond at 12.5% fixed rate
Wednesday, 09 October 2019 17:37
Enda Tamweel, a Tunisian microfinance institution that owns 61% of market share, plans to carry out a bond issue operation totaling TND15 million ($5.2 million) without the use of public offerings. The issue will cover 150,000 bonds with a par value of TND100.
The loan, which will have a maturity of five years, has an annual fixed interest rate of 12.5%. The subscription period runs from 10 to 22 October. Subscribers are required not to sell these bonds to investment companies and fund managers.
The operation is expected to strengthen Enda Tamweel's financial structure, consolidate its resources in the mid and long term and support the development of its business. At the end of August 2019, the rating agency Fitch Ratings assigned a BBB- rating to the Tunisian microfinance institution.
This rating reflects the institution's solvency and financial autonomy. Fitch Ratings also believes that the entry of new investors into Enda Tamweel's shareholder base will support the company's growth ambitions.
Chamberline Moko
Live News
-
Ghana Partners with eLearning Africa to Boost Digital Learning Nationwide
18:31
-
Togo Updates PURS Program with Partners amid Increased Insecurity-induced Displacement in North
18:17
-
Port of Limbé: Cameroon Bets on Turkish Yenigün, a Controversial Partner in a Risky BOT Deal
18:11
-
Ghana Launches Training Program to Boost Cancer Care Across Africa
17:45
-
DR Congo: Kamoa-Kakula Copper Smelter Secures Full Production Sales
17:41
-
African Liquefied Natural Gas Sector Fuels Asian Shipbuilding
17:37
-
Flutterwave Secures Payment License in Senegal, Expands Francophone Africa Presence
16:53
-
Logistics Startup Leta Launches Operations in Ghana
16:39
-
CEMAC Inflation Slows, but Cameroon Keeps Prices High in Q1 2025
15:33
-
Togo Launches 23 Local Development Projects Backed by GIZ Funding
15:27
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...