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Bahrain launches $2bn bond, Sukuk Offering
The sovereign will price the long seven-year sukuk at 5.625%. That compares with initial thoughts of 6% area and guidance of 5.75%-5.875%.
Bahrain will also price a 12-year conventional bond at 7%. That compares with initial thoughts of 7.25% area and guidance of 7.125% area.
The combined book closed in excess of US$7bn.
The 144A/Reg S transaction is today's business via Bank ABC, BNP Paribas, Credit Suisse, JP Morgan, Standard Chartered Bank.
Bahrain is rated BB (stable) by Standard and Poor's and BB+ (stable) by Fitch.
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