National loan 2024: 1st tranche beats 2023 response rate

By:Souleymane Loum 

The national bond issue has been demonstrated to be a successful endeavour once again. The revenue for 2023 has kept its contribution to the public treasury, corresponding to the previous year’s. After amassing 3.799 billion dinars last year, attaining an overall response rate of 136%, the government initiated another round on February 5. The initial offering of 2024 has already scored a notable triumph.

The first stage of the National Loan, spanning from February 5 to 13, amassed 1.033 billion Tunisian dinars, substantially exceeding the initial target of 750 million dinars (MD), resulting in an outstanding response rate of 138%. This information was provided to TAP on Friday, February 16, by Maher Zouari, the general manager of Tunisie Clearing.

Breaking it down, the subscriptions came mostly from stock market intermediaries and banks, contributing 67% and 33% of the subscriptions, respectively. Category B, which presents a repayment period of 7 years, secured 769.9 MD, accounting for 74.5% of the total amount raised in the first tranche of the 2024 financial year’s Bond Loan.

The 10-year subscriptions (category C) reached 260.3 MD, representing 25.2% of the total amount raised.

Moreover, category A, aimed at personal subscribers, achieved 3.5 MD, constituting 0.3% of the first tranche’s total for the 2024 bond issue.

With the addition of 7 billion dinars to be advanced by the BCT (Central Bank of Tunisia) this year and the forthcoming proceeds from the National Loan, the public treasury is set to experience a significant boost.