Algeria's Arab Leasing Corporation (ALC) issued a second institutional bond on Tuesday (January 9th), raising 3.3 billion dinars. ALC issued five-year bonds, which will mature in 2012 with an average yield of 3.93%. The funds are earmarked to finance public works projects in the transportation sector. With the new bond issue, ALC's total debt increased to around 7 billion dinars in six months. ALC's shareholders include the Arab Bank Corporation, the Arab Investment Company, CNEP-bank and the International Finance Corporation.

Algeria's ALC issues long-term bonds to finance public works projects