Jordan has this week issued a $1bn Eurobond with a yield of 5.8% due in 2027. The bond, which was more than four times oversubscribed at $4.35bn, was managed by Citigroup and JP Morgan.

Finance Minister ‘Umar Malhas hailed Jordan’s success in issuing the international bond in one day and at a yield less than the year ago rate of 6.375%, and said that it reflects investors’ confidence in the kingdom’s economy and its reform programs. S&P has recently affirmed...