Capital Bank Secures “Tier1 A” Loan Worth USD100 Million

Capital Bank

On Wednesday, Capital Bank Group, a leading financial institution in Jordan and the region, announced that it succeeded in issuing the first $100 million perpetual loan bonds, the first of its kind in Jordan, classified under the additional “Tier1 A” capital.

The bank issued a statement saying the issuance, which was managed by the investment arm of the Capital Bank Group, Capital Invest, attracted significant investor interest and was oversubscribed with more than double the initial value offered.

The statement specified that the subscribers are from the Kingdom and the region.

Capital Bank is scheduled to ring the opening bell on the Nasdaq Dubai next week in order to celebrate the listing of the bonds, which is the first listing received by this stock exchange in 2022.

The Chairman of the Capital Bank Group, Basem Khalil Al-Salem, thanked the Central Bank of Jordan and the Jordan Securities Commission for their efforts in making this issuance a success.

“We are proud of the success of this issuance, which demonstrates the confidence enjoyed by the Capital Bank Group and the strength of its financial position.”

– Chairman of the Capital Bank Group, Basem Khalil Al-Salem

Salem pointed out that the choice of Nasdaq Dubai to list the issuance aimed to give investors from outside Jordan the opportunity to invest in the Jordanian banking sector.

The CEO of Capital Bank, Daoud Ghoul, said that the issuance proceeds will be used to strengthen the capital base of Capital Bank.

He explained that the loan will also be used to support the bank’s expansion plans, including the launch of the digital bank Blink in Jordan and Iraq, the recent acquisition of Capital Bank Fully Acquires Societe Generale Bank Jordan, and expansion in the Saudi market.

Source: Petra News


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