On July 15, 2024, FMO, the Dutch entrepreneurial development bank, issued the first-ever Jordanian dinar-indexed bond. This was done in collaboration with TCX, who provided Jordanian dinar exposure to FMO through a swap transaction.
TCX’s involvement in the issuance enables private investors to invest in bonds denominated in frontier currencies, but with protection from convertibility and transfer risk. The combination of the triple-A credit rating from FMO, with the risk-return attributes of a frontier-currency denominated note, create an innovative and unique offer, for which there is strong and growing demand from global investors.
Please read the joint press release on this bond issue here.