Tunisia is bracing for its 22 October Eurobond issuance
Friday, 19 October 2018 15:03
Tunisia is being watched by the Eurobond market following its announcements that it had chosen Citi Group, Deutsche Bank, JP Morgan and Natixis to manage the Eurobond issuance which should start on October 22, 2018.
This would be the first sovereign bond issued by the north African country this year. In 2017, it came in the international debt market with two international issuances, without IPO, of $1 billion and €850 million respectively.
The new Eurobond will have a maturity period of 5 years but the unknown factor remains the interest rate. During the January 2017 operation, it was 5.75% but it was not sure that it will be the same.
The last international sovereign bond issued by Tunisia was in 2005 when it raised €400 million but, the context was different. Tunisia is organizing this operation just after Moody's downgraded its outlook from stable to negative due to vulnerability to external factors.
Idriss Linge
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