ENDA Tamweel Launches its First Bond Issue "ENDA Tamweel 2025-1"
ENDA Tamweel has launched its first bond issue, "ENDA Tamweel 2025-1", with the aim of raising 50 million Tunisian dinars (MTND), potentially increasing to 60 MTND. This operation will be carried out through a public savings appeal, with the objective of consolidating the institution's medium- and long-term resources and supporting the development of its microfinance activities.
The Board of Directors of the financial institution has obtained authorization from the General Assembly of Shareholders, held on May 22, 2024, to issue up to 450 MTND by the end of the 2027 fiscal year.
Subscribers will have the option to choose between two categories:
Category A:
- 5-year term with a fixed interest rate of 10.0% per annum or a variable rate of TMM + 2.5%.
- Repayment will be made through an annual constant amortization starting from the first year.
Category B:
- 7-year term with a 2-year grace period and a fixed interest rate of 10.2% per annum or a variable rate of TMM + 2.7%.
- Repayment will be made through an annual constant amortization starting from the third year.
Annual interest payments and capital repayment will be made on June 16 of each year.
Subscriptions to this subordinated bond issue will open on May 8, 2025, subject to the publication of the final rating by Fitch Ratings on its website. Fitch Ratings has assigned a provisional long-term rating of BBB (tun) (EXP) to the "ENDA Tamweel 2025-1" bond issue, as of April 8, 2025. Recall that in October 2024, Fitch Ratings upgraded ENDA Tamweel's national long-term rating to BBB (tun) with a stable outlook, and confirmed its national short-term rating at F3 (tun).
