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
That compares with initial thoughts of 6% area and 7.25%
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)