ALBAWABA - The Central Bank of Jordan (CBJ) and the finance ministry announced the successful completion of a Eurobond issuance worth $1.25 billion with a fixed coupon rate of 7.5 percent due in January 2029, according to a CBJ statement.
The price of the coupon was reduced by 25 basis points from the previous year's issuance, which is part of the 2023 state budget.
The issue received offers of over $4.7 billion, 6 times the target amount, underlining the global investors' confidence in Jordan's stability and leadership, according to the statement.
The country's public debt increased 6 percent in the first 11 months of 2022 to $42.8 billion. Domestic debt reached $14.25 billion, while foreign debt was estimated at $16.16 billion, with the total equal to 88.2 percent of GDP.
