Jordan plans a $1bn Eurobond in October, Finance Minister ‘Umar Malhas announced on 24 September. Roadshows to market the debt, which Jordan expects will have a tenor of 10 years with the possibility of an additional 30-year tranche, are already underway. JP Morgan and Citi will lead-manage.
Amman is tapping the international debt market to refinance maturing debt and meet other fiscal obligations as stipulated in the borrowing limits set out in the 2017 budget (MEES, 5 May). In April it issued a 2026-maturity $500mn Eurobond which priced at 5.875%. In its previous Eurobond, in October 2016, Jordan priced a 10-year issue at 5.8% (MEES, 28 October 2016). (CONTINUED - 257 WORDS)
