October 4, 2016 / 10:17 AM / a year ago

Bahrain sets guidance for US dollar bonds

Oct 4 (IFR) - The Kingdom of Bahrain has announced guidance on its US dollar benchmark-sized dual-tranche transaction comprising a long seven-year sukuk and 12-year conventional bond, according to a lead.

The sovereign has announced guidance of 5.75%-5.875% on the February 2024 sukuk. On the October 2028 bonds, pricing is 7.125% area.

That compares with initial thoughts of 6% area and 7.25% area respectively.

The combined order book is in excess of US$4bn.

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. (Reporting by Robert Hogg; editing by Sudip Roy)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below