Ammon News - AMMONNEWS - The Jordanian government has issued and sold $1.25 billion US-guaranteed eurobonds to major global investors, Finance Minister Ummaya Toukan.

One-billion dollars of the issuance will mature in 2022 under an interest rate of 2.57 per cent while the remaining $500 million will mature in 2025 with an interest rate of 3 per cent. The interest shall be paid on a half-yearly basis until the maturity date of the issuance.

The minister said subscription to the issuance amounted to $4.9 billion or 326 per cent of the issuance value, adding that the move aims to diversify funding sources and maturity dates, balance between internal and external borrowing and take advantage of the U.S. guarantees in securing lower interest rates.

Toukan thanked the U.S. government for its continued support for Jordan and paid tribute to efforts by the US Embassy in Amman to ensure the success of the issuance.

He also thanked those who helped and contributed to completing the issuance, including Khalid Darwish from JP Morgan and Ziad Qutami from Citigroup.