El Amel Microfinance Announces Bond Issue without Public Savings Appeal
El Amel Microfinance has announced the issuance of a bond without a public savings appeal, targeting an amount of 7 million Tunisian dinars (MTND), which may be raised to 10 MTND.
The board of directors of the microfinance institution has been authorized by the Ordinary General Meeting of Shareholders on June 24, 2024, to issue up to 20 MTND of bonds over a period of 5 years.
A single category is proposed to shareholders, with the same value of 100 TND, with a 5-year duration, and an annual constant amortization rate of 11.5% or a variable rate of TMM + 3.5% (gross). Subscriptions to this bond issue will begin on Monday, May 26, 2025, at the company's counters and will close, at the latest, on June 27, 2025. They may be closed without notice as soon as the maximum amount is fully subscribed. In the event that a lower amount than 7 MTND is placed by the closing date of the subscription period, the issue amount will correspond to that actually collected.
The objective is to strengthen the company's financial structure, consolidate its medium- and long-term resources, support the growth of its activity, and expand its agency network.
Indeed, the highest return rate on the market reflects the small size of this small operator in a dynamic and growing market. There is great confidence in this sector, and we believe that the target of 10 MTND will be achieved.
