The Ministry of Finance and the Central Bank of Jordan (CBJ) today announced that they have completed the issuance of a $1.250 billion worth of Eurobonds in global markets at a fixed coupon rate of 7.5 percent due in January 2029.

The Finance Ministry has reduced the coupon rate by 25 basis points from 2022's issue of 7.75 despite the US Federal Reserve raising interest rates seven times since the previous issue, reports Jordan News Agency (Petra).

Finance Minister Muhammad Ississ said the issuance targeted a subscription size of $750 million, but offers submitted by investors amounted to more than $4.7 billion, 6 times the target size.

Source: Bahrain News Agency