By Andrei Skvarsky.
Jordan’s Arab Bank, one of the Arab world’s biggest lenders, has issued bonds to a total of $250m as a private placement project and has had the issue listed on the London Stock Exchange.
The additional tier 1 (AT1) securities, which offer 8 per cent interest, have attracted institutional and individual investors based in Jordan and other countries, the bank said in a statement.
Arab Bank chairman Sabih Masri said demand for the bonds “exceeded the issue size”.
The securities, listed on the LSE’s International Securities Market (ISM) and Sustainable Bond Market, represent Jordan’s first sustainable perpetual AT1 issue, the statement said.
The bank has more than 600 branches on five continents. Earlier this year, Global Finance magazine named the Amman-headquartered institution the best bank in the Middle East for 2023 in more than two dozen categories.
Sorry, comments are closed for this post.