Tunisair, the national carrier of Tunisia, is planning to raise 24 million dinars through a new bond issue without a public call for subscriptions. The proposal will be submitted to the approval of the company's Ordinary General Assembly scheduled for November 10, 2026, in Tunis. The shareholders will be asked to delegate the necessary powers to the board of directors to carry out this operation. The board will have the authority to issue the bonds in one or several installments and set the conditions and modalities.
The proposed resolutions of the assembly indicate that the deadline for concretizing the loan should not exceed twelve months from the date of the Ordinary General Assembly. The amount of 24 million dinars is an envisaged envelope, but the financial conditions of the loan are not yet known. The project does not specify the interest rate, the duration of the loan, the repayment modalities, or the identity of potential subscribers. The allocation of funds is also not indicated, making it difficult to assess the cost of this new operation for the national company.
This will be Tunisair's third bond issue in a year. In 2025, the company carried out two bond issues without a public call for subscriptions. The first issue, launched in October, raised 25.2 million dinars, while the second, closed in November, collected 100.8 million dinars. In total, these two operations allowed the company to raise 126 million dinars. The Ordinary General Assembly on November 10 will have to approve this new authorization before any potential issuance of bonds.
The board of directors will have full authority to determine the conditions and modalities of the bond issue. This includes setting the interest rate, duration, and repayment terms. The company has not disclosed the potential use of the funds raised from this bond issue. Tunisair's financial situation and future plans will likely be scrutinized by shareholders and investors during the Ordinary General Assembly.
Tunisair's strategy to raise funds through bond issues indicates the company's efforts to manage its finances and meet its capital requirements. The success of previous bond issues in 2025 has likely encouraged the company to consider similar operations in the future. However, the lack of detailed information about the proposed bond issue makes it challenging to assess its potential impact on the company's financial situation.
The Ordinary General Assembly on November 10, 2026, will be a crucial event for Tunisair, as shareholders will decide on the proposed bond issue and other key matters related to the company's operations. The assembly will provide an opportunity for shareholders to engage with the company's management and directors, discuss its financial performance, and make informed decisions about its future plans.
Tunisair's plans for a new bond issue worth 24 million dinars demonstrate the company's ongoing efforts to secure funding and achieve its business objectives. The outcome of the Ordinary General Assembly and the success of the proposed bond issue will be closely watched by investors, analysts, and industry experts.
Key points
- Tunisair plans to raise 24 million dinars through a new bond issue without a public call for subscriptions.
- The proposed bond issue is subject to approval by the company's Ordinary General Assembly on November 10, 2026.
- This will be Tunisair's third bond issue in a year, following two successful operations in 2025 that raised a total of 126 million dinars.
