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:

building-supplies-online-1 listed on couponmatrix.ukee-store listed on couponmatrix.ukgardening-express listed on couponmatrix.uktrusted-travel listed on couponmatrix.ukwallpaper-direct listed on couponmatrix.ukwheel-gate-adventure-park listed on couponmatrix.uk
building-supplies-online-1 listed on couponmatrix.ukFor all your DIY and work needs, Building Supplies Online is the place to go. Get the job done with everything you want and at a price you’ll love by using a Building Supplies Online discount code. Don’t get stuck traipsing around store after store, find all the tools and materials you need in one place, and shop from the comfort of your home! From windows and doors, to tiles and taps, get it all at Building Supplies Online.
ee-store listed on couponmatrix.ukThe EE Store is your ultimate destination for all things tech, whether you need a laptop replacement or are ready for a speaker upgrade. Featuring big-name brands such as Apple, LG and Fitbit, you're guaranteed to discover the best quality electronics at unbeatable prices. Use an EE Store voucher code from us to enjoy savings on a wide range of items, from smartphones to surge protectors. Now you can afford to invest in the best tech and upgrade your home with premium electronics without breaking the bank, all thanks to EE.
gardening-express listed on couponmatrix.ukEstablished in 1990, Gardening Express has grown from a humble nursery in Essex to one of the largest independent garden centres in the UK. From primroses and poinsettias to bonsai and bamboo, Gardening Express stocks only the finest plants, flowers and trees. Make your savings bloom with a Gardening Express voucher and enjoy the beauty of mother nature for less. Ditch the trip to the garden centre - order online from Gardening Express and have your plants delivered to your doorstep.
trusted-travel listed on couponmatrix.ukGet your holiday off on the right foot with Trusted Travel and take the hassle out of booking airport parking, lounges and transfers online. Don’t forget to look for a Trusted Travel discount code from us before you get to work ticking off your to-do list, and you could save a packet on these travel essentials and join more than 150,000 happy customers. With a wide range of parking solutions and VIP lounges at all major UK airports, you can sit back and let Trusted Travel take care of the details, each and every time you fly.
wallpaper-direct listed on couponmatrix.ukThe name might be practical rather than fancy, but be in no doubt: Wallpaper Direct has a very noble lineage. You can choose from over 11,000 designs from the website, though the brand is actually owned by Brewers, the official supplier of decorating materials to none other than HM The Queen. You may not live in a palace, but your Wallpaper Direct voucher code will help make you think that you do, and you'll find endless curtain material, fabrics and other accessories to make sure your home looks perfect whenever you want to impress a visitor.
wheel-gate-adventure-park listed on couponmatrix.ukWelcome to Wheelgate Park, an action packed theme park set in Nottingham for the whole family! Set in 30 acres of land including 20,000 feet of indoor adventures, the park has an enticing array of all-weather features from making a splash with water rides to a daring alien zone and even unicorn rides. With Wheelgate Park discount codes you can enjoy a fantastic day out for less. Whatever the weather, Wheelgate Park will give you an unforgettable experience.