Algiers – The Algerian Stock Exchange’s regulatory committee, COSOB, has granted approval to Tosyali Algeria for the issuance of a bond loan valued at an initial amount of 15 billion DZD, with a maturity period of five years. The announcement was made in a statement issued on Thursday.
According to the statement, COSOB granted approval for the information memorandum presented by Tosyali Iron Steel Industry Algeria (a joint-stock company) regarding the issuance of a bond loan worth 15 billion DZD, with the possibility of increasing the amount to 20 billion DZD, aimed at professional investors during the initial subscription.
As part of this operation, between 1.5 million and 2 million ordinary bonds will be issued, each with a nominal value of 10,000 DZD. These bonds will be listed on the “premium” section of the bond market on the Algerian Stock Exchange, the statement added.
The bond loan will carry a fixed annual interest rate of 5.65% and is intended to partially finance investments in Tosyali’s new integrated flat steel production plant.
Tosyali Algeria, founded in 2007, has a capital of 50 billion DZD as of December 31, 2024. The majority shares are held by Fouad Tosyali (53.8%) and Mohamed Fathi Tosyali (26%). Based in Oran, the company specializes in the production of long steel bars, wire rods, and spiral steel pipes, with an annual production capacity of 4 million tons, representing 57% of the national production. The company’s revenue for 2023 reached 260.7 billion DZD, with 84.9 billion DZD coming from exports, according to the COSOB statement.
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Author: nor-eleslam
Keyphrase: Tosyali Algeria bond loan
