Jordan Taps Bond Market, But Syria Conflict Weighs

Jordan has launched a $1.5bn sovereign bond issue which was more than three times oversubscribed with 100% take-up by international investors.

The bond is in two tranches: $1bn due in 2022 with a yield of 2.578%; and $500mn in 2025 with a yield of 3%, with interest paid semi-annually until maturity on both tranches, Jordan’s Minister of Finance Umayya Tuqan announced on 26 June. The minister said that the latest bond issue...