Amman, Jordan: — Bank al Etihad, listed on the Amman Stock Exchange, announced on Tuesday the closure of the subscription period for its perpetual bonds, with a total value of 100 million US dollars, which were offered for public subscription on September 12, 2023. The number of subscription requests received was 721, with a total value of 176.5 million US dollars, representing an oversubscription of 1.765 times the issuance size.
The strong demand reflects investors' trust in Bank al Etihad, thanks to its professional reputation and commitment to implementing best practices and governance standards. The bank will utilise the proceeds from the subscription to support its strategic expansion plans, both locally and regionally, and to continue its digital transformation journey.
Mr. Isam Salfiti, Chairman of Bank al Etihad's Board of Directors, expressed his gratitude and appreciation to the Central Bank of Jordan and the Jordan Securities Commission for their significant efforts in supporting this issuance, which will contribute to enhancing the banking sector's activity, a key economic sector in the Kingdom.
These perpetual bonds are classified as Additional Tier 1 Capital, in accordance with regulatory capital instructions, following the Basel III standard and the guidelines issued by the Central Bank of Jordan. They will be listed for trading on the Amman Stock Exchange."
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