The Arab Tunisian Bank (ATB) has just received the approval of the Financial Market Council (CMF) for the issue of a subordinated Bond for an amount of 50 million dinars divided into 500,000 bonds of 100 dinars nominal.
The loan consists of two classes issued under the following conditions:
– Category A: with a maturity of 7 years including 2 years of floating rate MMR + 2.05%
– Category B: 10-year variable rate MMR + 2.1%
Subscriptions to this subordinated loan and the payments will be received from December 25, 2017 from the Arab Financial Consultants (AFC), an intermediary on the stock exchange, and will be closed without notice by March 15, 2018.
Annual payment of interest and repayment of principal due will be made in arrears on March 15 of each year. The first repayment of interest will take place on March 15, 2019 for both categories.
The first capital repayment will take place on March 15, 2021 for category A and March 15, 2019 for category B.
The issuance of the ATB Subordinated Bond 2017 is essentially part of the implementation of ATB’s five-year strategic plan to improve its prudential ratios set out by the Central Bank of Tunisia and consolidate its own funds.