June 30, 2020 / 9:02 PM / 15 days ago

Jordan issues double tranche $1.75 bln Eurobond, pushes public debt

AMMAN, June 30 (Reuters) - Jordan said on Tuesday it issued a double tranche of $1.75 bln of Eurobonds that will help it cope with the economic impact of COVID-19, which economists and critics say will push public debt to a record 100% of gross domestic product.

The finance ministry said the issue of $500 million at 4.95% over a 5-year maturity and $1.25 billion at 5.85% over a 10-year maturity was oversubscribed by more than 6.25 times after attracting bids worth over $6.25 billion.

Jordan’s Finance Minister Mohammad Al Ississ said the oversubscription and “relatively low interest rate” of Jordan’s Eurobonds was a “testament to its fiscal stability.”

Reporting by Suleiman Al-Khalidi Editing by Chris Reese

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below