Jordan issues $1.75bn double tranche eurobond to boost finances amid Covid-19 pandemic – The National

Jordan issues $1.75bn double tranche eurobond to boost finances amid Covid-19 pandemic – The National

The issue was oversubscribed more than 6.25 times after attracting bids worth over $6.25bn, Jordan's ministry of finance says

















People sit at an Amman restaurant that reopened to the public on June 6 as Jordan lifted strict coronavirus restrictions after more than two months. Jordan raised $1.75 billion through a double tranche eurobond. EPA

















July 1, 2020



July 1, 2020















Jordan raised $1.75 billion (Dh6.42bn) from a double tranche eurobond at competitive rates to help the country cope with the economic fallout of the coronavirus pandemic.





A tranche of $500 million at 4.95 per cent over a 5-year maturity and another of $1.25bn at 5.85 per cent over a 10-year maturity, were oversubscribed more than 6.25 times after attracting bids worth over $6.25bn, the kingdom's ministry of finance said in a statement.





"The oversubscription and relatively low interest rate of Jordan's eurobonds is a testament to its fiscal stability, as well as high confidence amongst the international community on Jordan's positive economic trajectory particularly in light of its swift and decisive Covid response,“ Jordan's finance minister Mohammad Al Ississ said.