France to lend Tunisia 135 million euros to finance projects — premier

France to lend Tunisia 135 million euros to finance projects — premier
French Prime Minister Bernard Cazeneuve, left, talks to Prime Minister of Libya Fayez Al-Sarraj at the French embassy in Tunis, Tunisia. (AP Photo/Hassene Dridi)
Updated 07 April 2017

France to lend Tunisia 135 million euros to finance projects — premier

France to lend Tunisia 135 million euros to finance projects — premier

TUNIS: France has agreed to lend Tunisia 135 million euros ($143 million) to finance two infrastructure projects, Tunisia’s prime minister said on Friday.
“France will finance two projects, the first worth 60 million euros and another with 75 million euros,” Prime Minister Youssef Chahed said at a news conference with French Prime Minister Bernard Cazeneuve in Tunis.
The French Development Agency (AFD) will finance a project to expand the potable water network and will fund a metro project.
France, one of Tunisia’s biggest economic partners, will also convert 35 million euros of debt into investment after an operation last year to convert Tunisian debt worth 60 million euros, the French Prime Minister said.
Cazeneuve said France would continue to support Tunisia after it launched “courageous economic reforms” and called on foreign tourists to visit Tunisia to help revive an economy struggling after deadly attacks on tourists in 2015 by Islamist militants.
The North African country has been lauded as the only political success story of the Arab Spring for its democratic transition. But it has made slow progress on economic reform to curb public spending and deficits.


NCB plans to issue dollar-denominated sukuk

NCB plans to issue dollar-denominated sukuk
Updated 17 January 2021

NCB plans to issue dollar-denominated sukuk

NCB plans to issue dollar-denominated sukuk
  • The number and value of any sukuk to be offered will be determined based on market conditions
  • Offering of the sukuk will be limited to qualified investors, the bank said

National Commercial Bank (NCB) announced the intention of NCB Tier 1 Sukuk Ltd., an exempted company with limited liability in the Cayman Islands, to issue US dollar-denominated additional Tier-1 sukuk, the bank said in a statement to Tadawul today, Jan. 17.

NCB mandated Citigroup Global Markets Ltd., Emirates NBD Capital, Goldman Sachs International, J.P. Morgan Securities, MUFG Securities (EMEA), NCB Capital and Standard Chartered Bank as joint lead managers and bookrunners for the potential offer.

The potential offer aims to enhance the bank's Tier-1 capital, and in addition it will be used for general corporate purposes.

The number and value of any sukuk to be offered will be determined based on market conditions, the statement said.

The potential offer will be subject to approvals from the relevant regulatory authorities and will be made in accordance with the applicable laws and regulations.

Offering of the sukuk will be limited to qualified investors, the bank said, adding that any material developments will be announced in due course.