Jordan has become the latest sovereign issuer to access international debt markets, joining a wave of bond activity across the Middle East this week.
Acting through its Ministry of Finance, the Kingdom—rated Ba3 (stable) by Moody’s, BB- (stable) by S&P, and BB- (stable) by Fitch—has mandated banks for a U.S. dollar-denominated seven-year fixed-rate bond issued under Rule 144A/Reg S, alongside a tender offer.
Citi and HSBC have been appointed as joint lead managers and bookrunners for the transaction. They will organize a series of one-on-one and small-group investor meetings starting Monday, November 3, to engage with fixed-income investors ahead of the issuance.
As part of the deal, Jordan has launched a cash tender offer to repurchase any or all of its outstanding $1 billion 6.125% notes due in 2026. The offer will close on November 10, with Citi and HSBC also acting as dealer managers for the transaction.
The move comes as several Middle Eastern issuers capitalize on favorable market conditions and strong investor demand. Earlier this week, Qatar opened initial price discussions for a dual-tranche U.S. dollar offering that includes a three-year senior unsecured conventional bond and a ten-year sukuk. Meanwhile, Saudi Arabia’s Gulf International Bank, backed by the Public Investment Fund (PIF), mandated banks for its debut U.S. dollar-denominated Additional Tier 1 (AT1) bond on Monday.
Jordan’s entry into the market highlights the region’s active sovereign and corporate borrowing trend as issuers seek to lock in financing amid stable rates and robust global liquidity.
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