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LONDON, Feb 21 (IFR) - The Kingdom of Bahrain has started marketing a tap of its US$1bn October 2028 bond, according to a lead, with initial price thoughts at 6.85% area.
The sovereign is seeking to raise up to US$600m.
The 144A/Reg S deal is today's business. Bank ABC, BNP Paribas, Credit Suisse, JP Morgan (B&D) and Standard Chartered are the leads.
Bahrain is rated BB- by Standard & Poor's and BB+ by Fitch. (Reporting by Sudip Roy, editing by Julian Baker)