Dechert’s London-based capital markets team advised the Hashemite Kingdom of Jordan on the issuance of its U.S.$1.25 billion 2.503% Guaranteed Notes due 2020. The Notes are guaranteed by the United States of America, acting through the U.S. Agency for International Development. The Notes were underwritten by Citi, HSBC and J.P. Morgan. Arnold & Porter acted as counsel to the underwriters.

The United States issued the guarantee to support the Kingdom’s economic development and reform goals and follows a visit by President Obama in March 2013 during which the President noted the benefits that the guarantee would bring to the Kingdom.

Partner Camille Abousleiman led Dechert’s team advising Jordan, assisted by senior associate Patrick Lyons and associate Jennifer Buckett.

The Dechert team previously advised underwriters on the issuance of Notes guaranteed by the United States by Banque Centrale de Tunisie, the central bank of the Republic of Tunisia, as well as the issue by the Hashemite Kingdom of Jordan of its U.S.$750,000.000 3.85% Notes due 2015, which was the Kingdom’s debut offering in the international capital markets.

This transaction marks the tenth sovereign bond issuance that the team has advised on in the MENA region in 2013.