Akin Gump advises on Perpetual Additional Tier 1 Bonds issued by Capital Bank of Jordan

Akin Gump has advised Capital Investments (DIFC) and Capital Investments and Brokerage Company / Jordan as the sole structuring agent and manager, respectively, in respect of Capital Bank of Jordan’s inaugural $100 million Reg S perpetual Basel III-compliant additional tier 1 capital securities offering.

The issuance is the first-ever additional tier 1 capital securities offering out of Jordan. The capital securities have been admitted to trading on Nasdaq Dubai.

The capital securities were issued on February 24, 2022, by Capital Bank of Jordan. In a move that is the first of its kind in the Jordanian banking sector, the issuance was approved by the Jordan Securities Commission, the Central Bank of Jordan and the Dubai Financial Services Authority.

Akin Gump debt capital markets team advising Capital Investments was led by partner Rizwan Kanji (pictured) and further included counsel Hamed Afzal and associates Nicola Minervini and Sahar Abas.

Capital Bank of Jordan, the issuer, was advised by Obeidat, Tarawneh & Kurd in respect of Jordanian law.