Attijari Leasing Launches Subordinated Bond Issue
It's been a while since subordinated bonds were last issued on the market. Attijari Leasing has just announced an operation of this kind. Based on the authorization granted by the Ordinary General Assembly on April 26, 2024, which gave the power to issue debts of up to 80 billion Tunisian dinars (MTND) over a year, the company's board of directors has decided to launch "Attijari Leasing Subordinated 2025 - 1". The amount is 30 MTND, which may be increased to 40 MTND, without resorting to a public savings appeal.
Subscriptions will begin on March 6 and will close no later than March 7, 2025. In other words, the targeted amount is almost guaranteed, and it wouldn't be surprising to read the closing announcement on March 6. Only one category is offered: bonds with a 5-year maturity, at a fixed gross rate of 10.30%. The repayment will be made through an annual constant amortization starting from the first year. Interest and capital repayment will be paid at maturity, on March 7 of each year.
The objective of the issue is to strengthen equity and improve solvency and risk concentration ratios, as well as mobilize the necessary resources for operations.
Attijari Leasing has been present on the market for many years and has an excellent credit rating. Its parent bank is none other than Attijari Bank, making this operation a windfall for those seeking a secure return.
