NEPCO sells bonds worth JD100m, seeks to raise JD917m in 2022

high voltage electricity towers
(Photo: Envato Elements)
AMMAN — The Central Bank of Jordan announced on Thursday the auction results of the first batch of the fifth tranche of “the fifth issue” bonds for the National Electric Power Company (NEPCO), according to Al-Mamlaka TV. The bonds are worth JD100 million, to mature in three and half years at a yield of 4.25 percent annually.اضافة اعلان

The government has approved the borrowing of JD917 million by NEPCO to cover the company’s financing needs and obligations until the end of 2022.

NEPCO’s board of directors decided in the first quarter of this year to approve the issuance of Islamic bonds (sukuk) worth JD375 million in batches for the purpose of financing energy purchases of natural and liquefied gas.

The government, represented by the Ministry of Finance, is the guarantor of the NEPCO bonds and all interest payments on due dates.

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