Bahrain hires 4 banks for new bond issue
Manama, August 27, 2014
Bahrain has hired four banks including Citigroup, Gulf International Bank and Standard Chartered to arrange a new sovereign bond issue expected to be launched before the end of the year.
The government bonds are highly prized by financial institutions and the mandated banks will look to these bonds as a new funding channel to be seized as government bonds are often risk-free, said a report in the Gulf Daily News (GDN), our sister publication.
Bahrain is expected to be upgraded to higher levels by international rating agencies in view of the kingdom’s political, security and economic stability, he added. - TradeArabia News Service