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Home News Tunisia: STB Bank successfully closes its 50-million-dinar bond issue

Tunisia: STB Bank successfully closes its 50-million-dinar bond issue

The stock market intermediary STB Finance announced on Thursday 28 November 2019 that subscriptions to the “STB Subordinated 2019-1” bond issue of 35 million dinars, which may be increased to a maximum of 50 million dinars, opened to the public on November 1, 2019, were closed on November 28, 2019, for an amount of 50 million dinars.

Let us recall that the bank has decided to issue this subordinated bond with the aim of further strengthening its net equity, preserving the adequacy between maturities and rates of the bank’s resources and uses by backing long-term resources with long-term uses and ensuring the mobilization of stable resources in the medium term necessary for the development of the bank’s activities.

In addition, STB Bank plans to comply with prudential management indicators, develop the bank’s activities, in particular credit distribution and market activities, and acquire the necessary resources to implement its 2019-2023 strategic plan, in particular the financing of the bank’s internal projects.

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