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Tunisia: Banque de l’Habitat to issue $12 million of subordinated bond

Tuesday, 19 February 2019 17:14
Tunisia: Banque de l’Habitat to issue $12 million of subordinated bond

(Ecofin Agency) - Tunisian bank Banque de l’Habitat, announced in a statement published February 14, 2019, that it has obtained the approval of the financial market regulator to issue a TND35 million (about $12 million) subordinated bond.

Baptized “BH subordonné 2019-1”, this bond could be increased to TND50 million. It will be divided into 350,000 bonds with a nominal value of TND100, which could be increased to 500,000 bonds.

Subscriptions will be launched on February 26, 2019, and ended without notice (once the maximum amount of the issuance is reached) on March 26, 2019, at the latest.

The bond will notably be used to “boost the bank’s equity to make it comply with prudential management indicators, meet clients’ demand in terms of credit, acquire the resources needed to implement its business plan and boost its stable resources to a liquidity ratio higher than 90%”.





 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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