National Bond 2024: Subscriptions to 3rd tranche of TND 700 million opens September 3 to 11

Tunis: Subscriptions to the 3rd tranche of the 2024 National Bond Issue, set at TND 700 million and likely to be raised to a higher amount, will be open from September 3 to 11, according to an order issued by the Finance Minister on July 26.Subscriptions for this third tranche may be closed before this date, or it may be extended, according to the order setting out the characteristics and conditions of the issue of this tranche and the opening and closing dates for subscriptions, published in the Official Gazette of the Republic of Tunisia (JORT) on July 26.The interest accrual date is set at the date of settlement and delivery of the securities, i.e. the second business day following the closing date for subscriptions to the third tranche, i.e. September 13, 2024.The Treasury had succeeded to raise TND 1,444.7 million for the second tranche (from May 6 to 13) of the 2024 National Loan, compared with TND 700 million initially provided for in the 2024 Finance Law, i.e. a response rate of around 206%, Tun isie Clearing Managing Director Maher Zouari told TAP.The subscribed sums came from stock market brokers and banks, with subscription rates of 60% and 40%, respectively.For the first tranche of the bond issue (subscriptions from February 5 to 13, 2024), the Treasury managed to raise TND 1,033.7 million, exceeding the initial target of TND 750 million, i.e. a response rate of 138%.The subscribed sums came from stock market brokers and banks, with subscription rates of 67% and 33%, respectively.Source: Agence Tunis Afrique Presse