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