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Ennakl Automobiles Targets Up to TND 100 Million via Private Bond Placement
Tunisian carmaker Ennakl Automobiles announced plans to raise as much as TND 100 million through a private placement of ordinary corporate bonds, bypassing a public offering. The move, approved at the board meeting on 25 May 2026, also includes a TND 50 million shareholder loan and aims to replenish cash for renewing standby letters of credit in line with the Central Bank’s 2026‑04 circular. An Ordinary General Meeting is set for 24 June 2026 to seek shareholder approval for the bond issue.
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Ennakl Automobiles plans a private‑placement bond issue
The Tunisian car manufacturer Ennakl Automobiles has announced its intention to raise up to 100 million Tunisian dinars through a private placement of ordinary corporate bonds, without a public offer.
The decision follows the board meeting held on 25 May 2026, where several financing options were reviewed and approved. The board also signed a shareholder‑current‑account loan agreement for 50 million dinars.
The proceeds will be used to create cash reserves needed to renew existing Standby Letters of Credit (SBLCs) with approved intermediaries, in line with the Central Bank of Tunisia’s circular 2026‑04.
To formalise the bond issue, the board has scheduled an Ordinary General Meeting for 24 June 2026 at 09:00 at the company’s headquarters in Charguia II, where shareholders will vote on authorising the private placement.
Ennakl continues to post modest growth, with recent reports showing a 2 % increase in Q1‑2026 revenue and a 3 % rise in 2025 sales.