Jordan Ahli Bank’s issuance of dollar-dominated perpetual AT1 bonds with a call option after five years, has been oversubscribed by 109%, fetching around $131 million from 650 local and regional investors, according to a document seen by Zawya.

A source told Zawya that the bonds would be listed on Amman Bourse by mid-December.

There were no further details about investors.

The $120 million bond issuance was announced by the bank last month. It carries a fixed interest rate of 8.5% during the first five years, followed by the same rate of the 5-year US treasury plus a 3.5% margin to be recalculated every quarter.

The public subscription was open from October 23 to November 5. 

(Reporting by Yasmine Saleh; editing by Seban Scaria)
(Yasmine.saleh@lseg.com)