Middle East Economic Survey

VOL. XLVII

No 51/52

20/27-December-2004

CAPITAL MARKETS

Jordans MEC Launches $40Mn Bond Issue

Middle East Complex For Engineering, Electronics & Heavy Industries (MEC) has launched a $40mn bond offering due in 2009. The five-year bond carries a 6.00% fixed interest rate and is callable after two years, when MEC has the right to redeem the bonds, in whole or in part, at 101% of their principal amount on the dates of interest payments (at a premium of 1% payable to...