Tunisia to issue $1bn Eurobond on Monday

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Tunisia is seeking to raise about $1 billion in Eurobond, which is it expected to issue on Monday.

Citi Group, Deutsche Bank, JP Morgan and Natixis have been chosen to manage the Eurobond issuance which should start on October 22, 2018.

This would be the first sovereign bond issued by the north African country this year. In 2017, it came in the international debt market with two international issuances, without IPO, of $1 billion and €850 million respectively.

The new Eurobond will have a maturity period of 5 years but the unknown factor remains the interest rate. During the January 2017 operation, it was 5.75% but it was not sure that it will be the same.

The last international sovereign bond issued by Tunisia was in 2005 when it raised €400 million but, the context was different.

Tunisia is going to the Eurobond market just after Moody’s downgraded its outlook from stable to negative due to vulnerability to external factors.


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