Rush to the Bond Market Continues
The rush to the bond market has been confirmed in recent months. This time, it's Arab Tunisian Lease (ATL) that has decided to issue a debt of 50 million Tunisian dinars (MTND). This is the second issue this year, after the one in April, in which an amount of 40 MTND was raised.
Issue Details
- A single category is offered, with a nominal value of 100 TND per bond.
- The duration is 5 years, with an annual amortization at a fixed rate of 9.15% starting from the first year.
Subscription Period
The subscription period for this loan will be open from December 22, 2025, and will close, at the latest, on March 10, 2026. However, it can be closed without notice as soon as the maximum amount of the issue is fully subscribed.
Notation and Launch
The effective launch of the subscription to this loan remains subject to the publication by the rating agency Fitch Ratings on its website of the final rating of the loan. The rating agency assigned a provisional long-term rating of "BBB+ (EXP) (tun)" on November 14, 2025.
Objectives of the Operation
The operation will allow the company to finance its activity and restructure its debt by providing it with a resource better adapted to the nature of its interventions in terms of maturity. In accordance with its financial projections, ATL has planned for 2025 a financing of 420 MTND, financed to the tune of 90.3 MTND by bond loans, 38.7 MTND by local and foreign bank credits, and the rest by the company's cash flow.
