Jordan unveils $750m bond issue

10 Nov 2010

(MENAFN) Jordanian Finance Minister, Mohammad Abu Hammour, announced that the Jordanian government has finalized a $750 million five-year bond issue which carries a fixed annual interest rate of 3.875 percent, to be paid every six months, Arab News reported.

The Kingdom’s first issue of bonds on international markets has been sold to about 220 international investors, and has been managed by a coalition of international banks, explained Abu Hammour.

The bond issue aims to broaden the government’s flexibility in ensuring financing for any future deficit in the public budget or financing infrastructure projects, the Minister stated.

2011 budget forecasts envisaged a deficit of about $1 billion, as opposed to $1.5 billion deficit in fiscal 2010.

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