Jordan to issue $300mn in local bonds

16 June, 2019 12:00 AM printer

AMMAN: Jordan will issue 300-million-US dollar bonds in the local market next week, state-run Petra news agency reported on Thursday.

The local bonds will be issued on June 18 to repay a 1-billion-dollar Eurobond due on June 23, according to official sources, reports Xinhua.

The government will also use a recent loan installment of 725 million dinars (1.02 billion dollars) it received from the World Bank to cover the remainder of the Eurobond payment.

Early June, the World Bank agreed to provide Jordan with the loan at a 4-percent interest rate and a four-year grace period.

The terms of the loan are concessional and the maturity of the loan is for 34 years, according to a World Bank statement issued earlier this month.