The Société tunisienne de banque (STB) opens subscriptions on Monday 19 October for a subordinated bond issue of up to 150 million Tunisian dinars. The operation is intended to strengthen its supplementary capital, according to a notice published by the Financial Market Council (CMF).
Subscriptions and payments are scheduled until 13 November 2026, with possible early closure if the amount sought is fully subscribed. Otherwise, the issue will be limited to the sums actually collected by that date. It takes the form of a private placement, without a public offering.
The loan is divided into bonds of 100 dinars and offers two categories with a term of seven years. The first provides for full repayment of capital at maturity, in November 2033, with a fixed gross annual rate of 9.05% or a variable return indexed to the average money market rate, plus 2.15 percentage points.
The second category provides for progressive repayment after a two-year grace period, starting in November 2029. The subscriber may choose a fixed gross annual rate of 9% or a variable rate based on the same money market reference, plus 2.10 points.
The notice states that the loan carries no specific guarantee. In the event of the liquidation of STB, the capital of these bonds would be repaid after privileged and ordinary creditors, in line with the subordinated ranking of the debt.