Middle East Economic Survey

VOL. XLVII

No 50

13-December-2004

CAPITAL MARKETS

Jordans ZARA Launches JD45Mn Bond Issue

ZARA Investment (Holding) Company, Jordans leading tourism investment company, has launched a JD45mn ($63.47mn) bond issue due in 2009. The five-year tenor bond has a total par value of JD4mn ($5.65mn) and is callable after two years. The bonds principal amount will be amortized in two installments of 30% and one installment of 40% at the end of the third, fourth and fifth years....