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Bahrain plans 10-year dollar bond

Manama, June 26, 2012

Bahrain plans to issue a benchmark-sized 10-year dollar bond this week with an initial price guidance for the issue at a spread of 462.5 basis points over midswaps, lead arrangers said on Tuesday.

The benchmark-sized is normally understood to mean at least $500 million in size.

JP Morgan Chase, Citigroup, Standard Chartered  and Gulf International Bank are mandated arrangers for the deal, which will be a conventional issue and structured under a 144a-compliant format, open to US investors.

Bahrain's last bond issue was a $750 million 7-year Islamic bond (sukuk), which was priced to yield 6.273 per cent.-Reuters




Tags: Bahrain | dollar bond |

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