Nourmony Lists $38M Bond on BRVM After Oversubscribed Issuance
TLDR
- Tunisian conglomerate Nourmony Holding officially listed its "Nourmony 7.25% 2024–2029" bond on the BRVM on May 14
- The CFA franc-denominated bond, aimed at raising 20 billion CFA francs, was 112% oversubscribed within 10 days
- The listing allows secondary market investors to trade the bond and provides liquidity for those unable to participate during the initial offering
Tunisian conglomerate Nourmony Holding officially listed its "Nourmony 7.25% 2024–2029" bond on the BRVM on May 14, marking its entry into the WAEMU region’s bond market. The CFA franc-denominated bond, aimed at raising 20 billion CFA francs, was 112% oversubscribed within 10 days of launch in February, raising 22.4 billion CFA francs ($38 million).
The listing allows secondary market investors to trade the bond and provides liquidity for those unable to participate during the initial offering. An initial transaction of 1 million CFA francs signaled Nourmony’s formal market entry. The funds will be deployed across key sectors, including automotive, construction, logistics, and equipment distribution.
Structured by SGI Impaxis Securities, the deal pools funding for four subsidiaries—SAM Motors, 100% Béton, SOGECAR, and CAM Equipment—under a group-wide growth strategy. At least part of the funds will be used to strengthen operations in Côte d’Ivoire.
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Key Takeaways
Nourmony Holding’s oversubscribed bond offering on the BRVM highlights growing investor appetite for structured corporate debt from regional players. The company’s strategic move comes as demand rises for credible instruments in West Africa’s capital markets. Founded in 2018 by Mohamed Ali Hachicha, the Ivorian-based holding has positioned itself as a cross-sector growth platform, supporting both new and existing subsidiaries. Executive Director Kaïs Feki said the bond will help subsidiaries play a leading role in fast-growing sectors by leveraging Côte d’Ivoire’s sustained economic momentum. The fundraising marks a shift toward capital market-based financing to reduce reliance on traditional banking and improve long-term financial flexibility. Nourmony’s goal is to consolidate internal growth, drive sector diversification, and secure its position among the top 500 companies in Africa through organic and inorganic expansion.
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