JORDAN

Jordan has completed preparations to issue a $1bn sovereign bond by 23 June, a source at the Ministry of Finance has confirmed this week. The bond will be managed by Citibank and J.P. Morgan and is expected to carry a fixed interest of 2.5% for five years, following which it will be repayable in full.

The bond will be guaranteed by the US government, as per a loan guarantee agreement signed in early May between the US and Jordan, securing both principal and interest. This is the...