Saudi Arabia to support Jordan bonds

18 Oct 2016

(MENAFN) Saudi’s Islamic Corp for the Development of the Private Sector (ICD) aims to support Jordan’s plans to offer an alternative to conventional bonds.

Additionally, the debut sovereign issuance was more than three-times oversubscribed, while the amortized Ijarah-based Sukuk has a tenor of 5 years.

Furthermore, Jordan will raise USD47.9mn maturing by 2021, while the sovereign issuance is part of comprehensive joint-Tech Assistance package offered by Japan.

Japan Intl’ Co-op Agency main services are to offer tech assistance, concessional official development assistance loan and grant aid.

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