Islamic Finance

Bahrain gives initial price guidance for multi-tranche dollar bond

| 13 September, 2017
Bahrain gives initial price guidance for multi-tranche dollar bond
Photo: The Central Bank of Bahrain building in Manama, Bahrain on Saturday 20 February 2010 / Dominic Dudley / Shutterstock.com

SEPTEMBER 13, 2017 | 1:38AM EDT | DUBAI

Bahrain has given initial price guidance for a multi-tranche dollar bond issue which is expected to raise at least $1.5 billion in total.

The guidance is in the 5.625 percent area for a long seven-year sukuk issue, in the 7.25 percent area for a 12-year conventional bond and in the 7.875 percent area for a 30-year conventional bond, according to a lead bank.

Bahrain hired BNP Paribas, Citi, Gulf International Bank, JP Morgan and National Bank of Bahrain to arrange a series of fixed income investor meetings ahead of the potential debt issuance.

Country representatives started meeting investors last Friday and ended the roadshows in New York on Tuesday. (Reporting by Davide Barbuscia; Editing by Andrew Torchia)

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