Financial and Banking News
LOANS AND ISSUES
Jordan Returns to Market for $200mn
Arab Bank Ltd has been mandated to raise $200mn for the Kingdom of Jordan. The loan is for eight years repayable in nine semi-annual installments after a four-year grace period, with a spread over Libor of 0.5% for the first four years and 0.625% thereafter. There is a 0.5% commitment fee. Jordan borrowed $150mn last year and paid only 0.5% over Libor throughout. In the context of the general decline in...