Bindar For Trading & Investments Plc issues 6-month Commercial Paper
Amman -- Capital Investments , announced the recent issue of JOD 2 million worth of 6-month commercial paper for Bindar for Trading & Investments Plc due April 16, 2007.
Capital Investments is the investment banking arm of Capital Bank, which was recently established as a separate legal entity, wholly-owned by the Bank. The Commercial Paper program was arranged by Capital Investments, who also acted as structuring agent.
The Commercial Papers are offered in denominations of JOD 100,000 and placed with large institutional investors, insurance companies and pension funds.
This program comes as part of a series of Commercial Paper Programs that have been arranged by Capital Investments for other corporations including A-Keena Hygienic Paper Company Ltd. (part of Nuqul Group), Jordan Phosphate Mines Company, Fastlink and MobileCom in addition to the Middle East Complex for Engineering, Electronics & Heavy Industries commercial paper program, issued in June 2006.
Haytham Kamhiyah, General Manager of Capital Bank reiterated the Bank's commitment in devising different instruments to better serve Capital Bank's clients. He stated: "The series of Commercial Paper programs underwritten by Capital Bank and arranged by Capital Investments support our strategy of offering investors alternativeshort-term instruments to finance their short-term working capital needs."
Bassam Hammad General Manager of Bindar for Trading & Investments said: "We are pleased to have the support of a strong financial institution such as Capital Investments, which has proven to be highly professional and efficient. We look forward to a long and fruitful relationship."
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Capital Investments, is the investment banking arm of Capital Bank, which was recently established as a separate legal entity, wholly-owned by the Bank.Capital Investments demonstrates broad experience in the areas of managing Initial Public Offerings (IPOs), arranging corporate bond issues, financial structuring for new and existing ventures, financial advisory services for mergers & acquisitions, valuations and privatization, as well as asset management and capital and treasury markets.
Commercial Paper is a negotiable unsecured short-term promissory note issued by a corporation or bank to finance its short-term credit needs. Maturities typically range from 90 to 270 days. Commercial Paper is available in a wide range of denominations. It can be either discounted or interest bearing, and usually has a limited or nonexistent secondary market. Commercial Paper is usually issued by companies with high credit ratings, meaning that the investment is almost always relatively low risk.
© Press Release 2006
