BTK Leasing to Issue Subordinated Bond of 50 Million TND
BTK Leasing is preparing to issue a subordinated bond of 50 million TND on the bond market.
Key Features of the Bond Issue
- Subscribers will have the choice between two categories of bonds, both with a term of 5 years and a unit nominal value of 100 TND.
- Amortization is constant annually from the first year.
- Category A offers a fixed rate of 9.0%, while Category B is remunerated at the variable TMM + 1.75% rate.
Subscription Period
The subscription period will open on February 17, 2026, and will close no later than March 17, 2026. It may be closed without notice as soon as the total amount of the issue is fully subscribed. If the placement is not complete by the closing date, the issued amount will be adjusted to the sum actually collected.
Rating and Approval
The issue has received a prospective long-term rating of "B+ (EXP) (tun)" from Fitch Ratings. The final rating will be confirmed after obtaining the visa from the Financial Market Council (CMF), which has now been acquired. This step is a necessary condition prior to the launch of subscriptions.
Use of Funds
The raised funds will be used to strengthen the company's net equity and finance part of the resources needed for its development program.
Investment Opportunity
We believe this is a very good savings opportunity, especially since the company is on a good profit trajectory and is part of a reference banking group, BTK Bank. Moreover, the parent bank is a guarantor for a full subscription to the loan.
