La COSOB finalise les préparatifs de l’emprunt obligataire de « Tosyali Iron Steel Algérie »
Summary of the COSOB Meeting on Tosyali Iron Steel Algeria Bond Issuance
On Tuesday, the Commission for the Organization and Surveillance of Stock Exchange Operations (COSOB) convened under the leadership of its president, Youcef Bouzenada, to finalize preparations for the official launch of the bond issuance by "Tosyali Iron Steel Algeria." The issuance is set to comprise between 1.5 and 2 million ordinary bonds, each with a nominal value of 10,000 Algerian Dinars (Da).
This bond issuance is slated for June 2024 and will conclude within the same month. Notably, COSOB had granted approval for this issuance back in November 2023. The bonds will be traded on the premium market for debt securities on the Algiers Stock Exchange, a move expected to enhance the financial landscape in Algeria.
During the meeting, the operational plan for the bond issuance was presented, discussed, and approved. Participants included the General Director of the Bank of Algeria (BEA), who will serve as the lead intermediary for the operations, along with representatives from both Tosyali Iron Steel Algeria and Société Générale Algeria, which is acting as the financial advisor for the issuing company.
President Bouzenada highlighted the notable progress made in Algeria’s financial market over the past year, citing encouraging indicators and a renewed interest in financial instruments. He expressed particular enthusiasm regarding the imminent introduction of this bond issuance, marking it as the second such event in over 15 years, following the ongoing issuance by ALC. This bond issuance signifies a pivotal moment in the evolution of the national bond market.
He also underscored the significant potential of Algeria’s financial market in supporting business development by providing alternative, diverse, sustainable, and competitive financing solutions that complement traditional banking options.
COSOB remains committed to fostering an attractive, reliable, and dynamic stock exchange ecosystem aimed at mobilizing national savings to support productive investments and diversify the economic framework of the country.
Overall, the COSOB meeting marked an essential step in advancing Algeria’s bond market and financial sector, with expectations of broadening investment opportunities and providing definitive support for corporate financing.
