Mawared Structures and Places JD 5 million Corporate Bond on behalf of Bindar Trading and Investment

Wednesday, September 5, 2018

(AMMAN, September 5, 2018) — Mawared, a Jordanian investment banking firm active in brokerage, corporate finance, and asset management announced the successful structuring and private placement of a one-year JD 5 million corporate bond issued by its client Bindar Trading and Investment. The bonds have been listed on the Amman Stock Exchange.

Since the beginning of this year, Mawared — a subsidiary of INVESTBANK — has acted as advisor and placement agent to four corporate clients, providing them with around JD 13 million ($ 17.8 million) in funding, in the form of private equity investments and corporate bonds. Clients included MadfooatCom, Jordan Trade Facilities, Bindar, and Al Imdad.

Targeted and subscribed investors included local and regional banks, insurance companies, corporates, financial services firms, investment companies, family offices, and retail investors.

Commenting on the success of these transactions, INVESTBANK CEO Muntaser Dawwas said: “The placement and listing of this latest corporate bond marks a major milestone in the Amman Stock Exchange, especially in light of the readiness of the legislative and regulatory environment in the Kingdom to accommodate and encourage new investment instruments.” He added that Mawared will continue to play an active role in working with clients to meet their funding requirements as well as acting as market maker for the listed bonds.

Dawwas noted that bonds are an important financial instruments that complement commercial bank funding and are an additional avenue for companies to explore when seeking to raise funds, expressing his hope that both public and private sector entities and corporates increase efforts to promote this often-overlooked funding tool to the benefit of
Jordan’s capital market. Dawwas explained that the listing of the Bindar Bonds on the Amman Stock Exchange presents opportunities for institutional and retail investors to diversify their portfolios, and allows for more options in terms of risk and asset allocation strategies, adding that Mawared has embarked on a corporate bond issuance program of various sizes and tenors for its clients, with fixed and variable interest rates.

Mawared — founded in 2006 — has recently expanded its operations, adopting a strategy built on three service offerings: local and regional brokerage backed by in-house research, advisory and corporate finance, and asset management.

ASE Summary as of 31/10/2018

MARKET INDICES

Points % Chg
General 1958.68 0.09
Financial 2655.01 -0.31
Services 1339.45 -0.38
Industrial 2058.39 2.07

MARKET ACTIVITY

Value Traded (JD) %
Financial 3,855,750 67.94
Services 857,177 15.10
Industrial 962,432 16.96
Total 5,675,360 100.00

TOP 5 GAINERS

Symbol Last % Chg
EMAR 0.17 6.25
JOTF 1.06 4.95
SNRA 2.41 4.78
SURA 0.44 4.76
NCMD 1.37 4.58

TOP 5 LOSERS

Symbol Last % Chg
JOIR 0.16 -5.88
AFIN 1.31 -5.75
ASAS 0.19 -5.00
EKPC 2.68 -4.96
IBFM 0.20 -4.76

MOST ACTIVE COMPANIES

Value Traded (JD) %
ARBK 1,364,478 24.04
SPIC 559,701 9.86
SURA 399,208 7.03
WOOL 378,402 6.67
UINV 320,701 5.65
Total 3,022,490 53.25

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