Middle East Economic Survey


No 46



Jordans $750Mn Debut Eurobond Oversubscribed

Jordans $750mn debut sovereign Eurobond was snapped up by investors last week, coming in $3bn oversubscribed. The five-year issue, which was one of several across the MENA region, saw attractive pricing for the issuer, at a coupon of 3.875%, priced at 275 bps over swaps and 300 bps over treasuries. For a debut deal a coupon of below 4% for a BB sovereign is a very aggressive benchmark....