SBIG's investment banking arm is Invest Corp Securities Inc. (BVI).

With a clear goal - to assist governments and their agencies on structuring infrastructure concessions, managing, negotiating and closing transactions - Invest Corp was the obvious choice when the Jordanian Government sought to raise US$145million to construct and furnish a new general headquarters complex for the Jordan Armed Forces on the outskirts of Amman.

The success of the fund-raising was overwhelming, international investors rushing to take part, and the issue was warmly praised by leading financial commentators.

Invest Corp, a wholly owned subsidiary of SBIG, was the mandated financial advisor to the Jordanian Government, and succeeded in raising the US$145million of long-dated debt by issuing a 15year fixed amortizing bond, backed by the full faith and credit of the Hashemite Kingdom of Jordan. It was the Kingdoms's first Sovereign Issue for many years.

The innovative financial structure not only provided the Jordanian Government with a long-term and cost-effective solution to its funding requirements, but was also extremely well received by the emerging markets sector of the international debt capital markets.

So successful was Invest Corp's initiative that it was twice over-subscribed, yet from the moment Invest Corp mandated UBS as lead arranger and sole book runner, to pricing it took just two months. The Financial Times rated the Issue "as the best in the region in that year."

Crucial to the Issue's success was the "roadshow" with a senior delegation from the government of Jordan. This met investors in Bahrain and London, outlining the intricacies of the scheme, over the course of three days, meeting representatives from Banks and Managed Funds.

At the "roadshow" potential investors saw that Jordan unconditionally and irrevocably backed the Issue of the bond through a letter of undertaking, that Jordan was a politically stable country committed to aggressive economic and social reforms, and that the Issue offered investors a sound, and rare, regional diversification opportunity.

The International Financing Review reported that the Issue "was well received by investors looking to diversify into the Middle East and capitalise on Jordan's positive economic story".

The UK took 34% of the issue, followed by the Middle East with 33%, Asia 10%, Austria 7%, US offshore 6%, the Benelux countries 5%, Germany 3% and France 2%. Banks received 66%, while funds and asset managers took 34% of the Ba2/BB rated bond. The bonds are listed on the London stock exchange in Reg S registered form and are backed by the full faith and credit of Hashemite Kingdom of Jordan.