Tunisair is seeking shareholder approval to issue bonds worth 24 million Tunisian dinars, equivalent to about €7.2 million, without a public offering. The proposal was included in draft resolutions published in Tunisia’s Financial Market Council bulletin on 30 October. Shareholders are due to consider it at an ordinary general meeting on 10 November at the airline’s headquarters in Tunis-Carthage; the financing has not yet been approved.
If authorised, Tunisair’s board would be able to issue the bonds in one or more tranches, determine their terms and conditions, and complete the issue within 12 months of the meeting. The proposal does not confirm that the airline has raised or secured the funds.
No details have been disclosed on how the proceeds would be used, the interest rate, maturity, repayment terms or potential subscribers. The financial effect will therefore depend on the final conditions and whether the issue is carried out.