The ministry of finance on Wednesday announced that it had successfully issued $500 million worth of Eurobonds on international markets with a yield rate of 5.875 per cent.

The underwriting applications for the bonds, due in 2026, amounted to more than $1.7 billion, or more than 300 per cent of the issuance value, according to a statement issued by the ministry. It added that about 150 major investment funds from the U.S., the UK, Asia and Arab Gulf countries participated in the underwriting.

The ministry said this successful issuance reflects the country’s efforts to attract investments, enhancing investor c in the Jordanian economy and boost the government’s drive towards effective fiscal reform.

This issue is part of a cash flow plan designed to secure financial needs in accordance with the public debt strategy aimed at diversifying sources of finance and reducing borrowing costs, as well as increasing the maturity dates of the public debt portfolio.