Finance

Société Tunisienne de Banque issues $17 million bond to fund development

Société Tunisienne de Banque issues $17 million bond to fund development
Monday, 03 December 2018 17:54

On December 3, 2018, Société Tunisienne de Banque (STB) announced the issuance of  TND50 million (about $17 million) bond to fund its development.

Subscription for this bond divided into 500,000 bonds of TND100 each was opened on December 3, 2018, at STB Finance, the bank’s subsidiary for intermediation, and will be concluded on January 18, 2019.

There are three bond categories: category A with five years maturity period for 9.25% fixed interest rate; category B with five years maturity period and an interest rate variable representing 2.5% more than the average market rate. Finally, there is category C with a seven years maturity period and a variable interest rate of 2.65% higher than the average market rate.  

The issuance is aimed at raising stable middle- term resources necessary for the development of the bank’s activities, consolidation of its own equity and funding its 2018-2022 strategic plan.

Let’s note that in October 2018, STB announced TND35.8 million ($12.7 million) of net profits generated in H1, 2018; a performance 64.4% higher on a year on year basis.

On the same topic
Legal appeals and calls for stability following leadership shake-up delay the Group’s listing on the Central African stock exchange. Highlights ●...
Cenntro has signed a deal with Moroccan firm Electricove to build an EV assembly plant. The factory will assemble models like the Teemak and LS450...
• Government to issue ₦80 billion in bonds through two tranches• Highest yield: 19.30% on four-year notes due April 2029• Bonds tradable, tax-exempt for...
The five-year deal allows Gambia to access liquidity without depleting foreign reserves or increasing debt. Highlights: ● Afreximbank to...
Most Read
01

The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...

Kenyan Mawingu Networks to Sell 35% Stake to South Africa’s Pembani Remgro Fund
02

The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...

10 African Fintech Unicorns and Upstarts Make World’s Top 300
03

By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...

Liberia, ECOWAS & World Bank collaborate on second West Africa submarine cable plan
04

As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...

Africa Faces 'Critical' Digital Skills Gap as Youth Population Booms, UN Warns
05

- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...

WAEMU: SMEs Secured 52% of Business Loans in 2024, Up From 49% in 2023 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.