December 9 2022 5:41 AM E-paper Subscribe Sign in My Account Sign out

CBJ issues sukuk for NEPCO

NEPCO
National Electric Power Company (NEPCO)
AMMAN — The Central Bank of Jordan, which issues sukuk (bond-like instruments used in Islamic finance) for the National Electric Power Company (NEPCO), is offering the fourth tranche of the fifth issue, with a value of JD75 million, according to Al-Mamlaka TV.اضافة اعلان

This is part of within the company’s program to issue sukuk for the year 2022, in the form of “murabaha (Islamic finance instrument) contract for the purchase order” for a period of three and a half years, at a murabaha rate of 4.25 percent.

This value is added to the volume of government borrowing for NEPCO benefit in the current year, as CBJ announced three issuances of permits in favor of the company, with a value of JD200 million, distributed as JD75 million for the third and fifth issues, and JD50 million for the fourth issue, with repayment terms ranging from three months to one year.

CBJ also issued four tranches for the fifth issue of murabaha sukuk, with a value of JD375 million; the first, second and third tranches were JD100 million, while the fourth tranche was 75JD million, with repayment terms of three and a half years for all tranches.


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