Amen Bank (Ben Yedder group) decides to postpone a 40 million dinar bond issue
Given the stalled market, Tunisia’s fifth-largest bank has changed its mind about the bond issue, but plans to carry out a similar issue in December.
15/04/2020 at 17h07, by Africa Business+
Last Monday, Amen Bank decided to postpone the bond issue until the fourth quarter of 2020: “There was no point in going through with it when business has practically come to a standstill. Plus, the subscribers, mainly insurance sellers, had not anticipated that the Central Bank would lower interest rates by a point [decided on 17 March, with rates going from 7.75% to 6.75%]”, Ahmed El Karm, the chair of the Tunisian bank’s board of directors, told Jeune Afrique Business+, asserting that the bank was “in no rush” to obtain the liquidity.
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