The issue will be marketed in Europe and the US in a number of roadshows, Jordanian sources said, adding that resorting to foreign borrowing will help diversify the sources of funds in the country and will lessen competition between the public and private sector over domestic financial resources.
Jordan’s Minister of Finance Sulaiman Hafiz had earlier announced that his government was planning to tap the Eurobond investors for $750mn to $1.5bn. The minister said invitations have been extended to several banks and international financial institutions to participate in the issue. The move will allow the government to achieve a balance between internal and external borrowing, he said. Jordan issued its debut $750mn sovereign Eurobond in November 2010 (MEES, 15 November 2010). It came in oversubscribed and will mature at the end of 2015. (CONTINUED - 591 WORDS)