Jordan issues Eurbonds worth $1.250 billion at coupon rate of 7.5%

The Ministry of Finance and the Central Bank of Jordan on Tuesday completed the issuance of Eurobonds in global markets, with a value of £1.250 billion, at a fixed coupon rate of 7.5 per cent, due in January 13, 2029.

In 2023, the Ministry of Finance managed to reduce the coupon rate by 25 basis points in comparison with 2022, when the coupon rate stood at 7.75 per cent, despite the US Federal Reserve raising interest seven times since the 2022 issue.

Finance Minister Mohamad Al-Ississ said that the issuance aimed for a subscription volume of £750 million, but offers submitted by investors amounted to more than £4.7 billion, six times the target volume.

“This is a testament to the market believing in Jordan’s transformation towards a prudent, equitable fiscal path in recent years,” Al-Ississ told The Jordan Times.

“A number of emerging markets were unable to issue Eurobonds in these global conditions, showcasing the real impact of maintaining macrostability,” the minister noted.

The number of subscribers exceeded 230, including some of the most important and largest global investment houses in the US, the UK Europe, Asia and the Gulf Cooperation Council countries.

Many investors praised the financial and monetary stability in Jordan despite the state of global economic instability during the previous years, which reduced the risk factor for Jordan and thus the interest of bonds.

Investors said that Jordan was able to fulfil its financial reform promises during the past years, which maintained economic stability.

Central Bank Governor Adel Sharkas indicated that the high demand for issuing Eurobonds reflects the confidence of international investors in Jordan’s stability and wise leadership, in addition to the solid fundamentals of the Jordanian economy, supported by its prudent fiscal and monetary policies.

This issuance comes within the financing budget included in the General Budget Law for the year 2023, which means that it will not go to furthering Jordan’s debt.

Tags:

anglesey-sea-zoo listed on couponmatrix.ukcartridge-shop listed on couponmatrix.uklancome listed on couponmatrix.uklego-company listed on couponmatrix.ukposturite listed on couponmatrix.ukthomas-cook listed on couponmatrix.uk
anglesey-sea-zoo listed on couponmatrix.ukIf you ever find yourself on the north-west coast of Wales, you can enjoy an afternoon of exploration at Anglesey Sea Zoo. As home to over 40 tanks full of fish, sea mammals and other cute creatures of the underwater world, an Anglesey Sea Zoo voucher is all that’s required to enjoy these watery wonders for a fraction of the price. From conger eels to spider crabs, discover new denizens of the deep today at Anglesey Sea Zoo.
cartridge-shop listed on couponmatrix.ukHaving over 20 years’ experience in supplying printers, ink, toner, paper and more for customers worldwide, Cartridge Shop knows better than most how to get the perfect print without breaking the bank. As a bastion for printing supplies, accessories, stationery and plenty else besides, you’ll be how astonished the amount you can save with a Cartridge Shop discount code at your side. So whether you work from home or are looking to refill the office printer, Cartridge Shop is your one and only choice for quick and convenient service.
lancome listed on couponmatrix.ukIf you’re talking sweet perfume and gorgeous cosmetics, you’re talking Lancôme. As authentic as the French forest its named after, Lancôme offers only the finest fragrances, makeup and cosmetics for true beauty connoisseurs. If you want to feel pampered like royalty without the salon price, stay thrifty and shop with the latest Lancôme discount code from Groupon. When it comes to scents, never accept second best, let it be Lancôme.
lego-company listed on couponmatrix.ukLEGO is loved by children and adults across the world. Since the launch of LEGO’s interlocking bricks in 1948, LEGO has been hailed as the creator of the most inventive and engaging toys on the market. With a huge range of themes including some of your favourite franchises like Star Wars, Harry Potter and Lord of the Rings, you can find a LEGO set to suit all interests. LEGO can’t be substituted for knock-off brands, so you’ll need a LEGO discount code from Groupon to cut the cost of the world’s most treasured building blocks. From animals to skyscrapers, the sky’s the limit with LEGO.
posturite listed on couponmatrix.ukKeeping a strong posture is an easy thing to let slip over many years, which is why Posturite provide the means to keep you and your body in tip-top condition. Professionals in supplying ergonomic furniture for work, it’s the ideal place to improve your working environment – be it at home or in the office. With a Posturite discount code you can save hundreds on workplace equipment including chairs, desks and accessories that’ll support you for many months to come.
thomas-cook listed on couponmatrix.ukFly away in style with the help of Thomas Cook. Whether it’s a city break, backpacking holiday or a cruise you’re after, you’ll be able to make a major saving on your hotels, flights and activities in your dream destination with the help of a Thomas Cook discount code on top of your next booking. Simply type in your free dates, your top spot to visit and you’ll be on your way to sun, sea and sand in no time.