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Mortgage Refinance sells JOD 2m bonds

Mortgage Refinance sells JOD 2m bonds
Photo Credit: Arabianeye-Reuters
JMRC
JMRC
129.01% 1.20 0.67


Amman-Mubasher: Jordan Mortgage Refinance Co (JMRC) announced in a filing to the Amman Stock Exchange (ASE) that it has sold 2000 bonds at a nominal value of JOD 2 million.

The bonds are for one year with 3% fixed interest maturing February 24, 2015.

JMRC General Manager Ibrahim Al Zaher said that the company granted the proceeds from the sale to one of the local companies to refinance housing loans.

The ordinary general meeting approved a cash dividend representing 12% of the capital, in addition to the financial statements for the fiscal year (FY) 2014, according to a bourse statement.

The company had reported a profit of JOD 972.69 million ($1.37 million) in FY14, compared to JOD 1.05 million in FY13.