Algiers \u2013 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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n