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Jordan has mandated banks for a 7Y dollar bond alongside a tender offer. The finance ministry appointed Citi and HSBC as joint lead managers and bookrunners to arrange investor calls starting yesterday. Concurrently, Jordan launched a cash tender offer to buy back any or all of its 6.125% 2026s. The tender offer expires on November 10. The issuance comes amid a wave of debt deals in the Middle East — for instance Saudi Arabia’s $12bn three-trancher, Kuwait’s $11.25bn three-part deal earlier this year, and Qatar, which has just priced a $4bn two-part offering inclduing a dollar bond and a sukuk.
Jordan’s 5.85% 2030s were stable at 101.1, yielding 5.59%.
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