Jordan issues $1.75bn double tranche eurobond to boost finances amid Covid-19 pandemic – The National
- Date: 01-Jul-2020
- Source: The National
- Sector:Financial Markets
- Country:Jordan
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.