The Bank of Tunisia and the Emirates (BTE) has just issued a subordinated bond loan without recourse to public offering for an amount of 30 million dinars divided into 300,000 subordinated bonds of 100 dinars nominal.
The subscriptions and payments to this loan will be received from July 5, 2021 at the Stock Exchange broker, BNA Capitaux, and will be closed at the latest on July 9, 2021.
The purpose of the present issue is to preserve the adequacy between the maturities and the rates of the resources and the uses of the bank by backing long resources to long uses and to further consolidate the bank’s net equity, in application of the circular of the Central Bank of Tunisia No. 91-24 of December 17, 1991 which refers to subordinated loans to define the complementary funds, components of the net equity.
These subordinated loans will be taken into account annually for the calculation of the complementary equity only up to the remaining capital and within the limits set by the above-mentioned circular (i.e. 50% of the amount of the basic net equity).