Jordan offered three-year treasury bonds in an offering worth JD100 million ($141 million), bankers said on Sunday.

The Central Bank of Jordan (CBJ), acting on behalf of the government, will auction the bonds to banks and investment and pension funds later on Sunday, and settlement will be a day later.

The bonds, which are open to local and foreign investors via banks, mature on August 24, 2012.

The last three-year Jordanian treasury bonds which were issued earlier this month had an average yield of 5.287 pct, maturing on August 13, 2012.

The average yield on six month T-bills rose to 3.058 percent at an auction on August 19, compared to 3.028 percent at the previous auction on August 5.

The monetary authorities have resorted this year to issuing more T-bills and bonds to finance growing public debt.

The CBJ cut reserve requirements on commercial deposits, stopped issuing certificates of deposit since October last year and cut major benching rates to free up funds for lending to spur growth.

CBJ data shows that compulsory reserves of private banks' foreign and domestic currency deposits that are held with central bank stood at JD1.037 billion on Sunday.

Liquidity in the domestic money market stood at JD3.737 billion, including overnight deposits. – Reuters