(Ecofin Agency) - Tunisian bank Banque de l’Habitat, announced in a statement published February 14, 2019, that it has obtained the approval of the financial market regulator to issue a TND35 million (about $12 million) subordinated bond.

Baptized “BH subordonné 2019-1”, this bond could be increased to TND50 million. It will be divided into 350,000 bonds with a nominal value of TND100, which could be increased to 500,000 bonds.

Subscriptions will be launched on February 26, 2019, and ended without notice (once the maximum amount of the issuance is reached) on March 26, 2019, at the latest.

The bond will notably be used to “boost the bank’s equity to make it comply with prudential management indicators, meet clients’ demand in terms of credit, acquire the resources needed to implement its business plan and boost its stable resources to a liquidity ratio higher than 90%”.