Attijari Bank Joins the List of Bond Issuers with a New Subordinated Bond Issue
Attijari Bank has become the latest financial institution to join the list of bond issuers at the end of the year. The bank aims to raise 40 million Tunisian dinars (Mtnd) through a subordinated bond issue, without a public savings appeal. The board of directors was authorized by the Ordinary General Assembly on April 4, 2025, to issue up to 300 Mtnd over three exercises.
Key Features of the Bond Issue
- A single category is proposed, with a nominal value of 100 Tunisian dinars (Tnd) per bond.
- The duration of the bond is 5 years, with a bullet repayment and a variable interest rate of TMM + 1.94% (gross).
- The TMM corresponds to the arithmetic average of the last 12 monthly average rates of the Tunisian money market published prior to the interest payment date.
- The months to be considered range from January of year N-1 to December of year N-1.
- Annual interest payments will be made on December 31 of each year.
Subscription Details
- Subscriptions to this bond issue will be launched on Tuesday, December 23, 2025, and will be closed, at the latest, on December 31, 2025.
- Subscriptions can be closed without notice as soon as the maximum amount of the issue is fully subscribed, which is likely to happen quickly.
- The operation has been well prepared in advance, and the group's subsidiaries have already prepared the treasury to ensure subscription on the first day.
Objective of the Issue
- The objective of the issue is clear: to strengthen the bank's equity and improve its solvency and risk concentration ratios.
