Hashemite Kingdom of Jordan JD34 million 3.01% sovereign sukuk

Overview:

• The Government of Jordan has undertaken a JD34 million sovereign sukuk ijarah (Islamic bond with leasing elements).
• The issue is the country's first sovereign sukuk and was more than three times oversubscribed.
• The 3.01% bond matures in 2021.
• The issue was made through SPV - the Jordanian Company for Islamic Sukuk for Financing Government Projects.
• The funds will be used to complete the construction of the country's new Ministry of Justice building.
• The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Jeddah-based Islamic Development Bank, provided technical support.

Sam Duke - Editor