(Adds pricing analysis)
By Sudip Roy
LONDON, Feb 21 (IFR) - The Kingdom of Bahrain has started
marketing a tap of its US$1bn October 2028 bond, with a 30bp new
The sovereign has announced initial price thoughts of 6.85%
area. The bond closed on Monday at a bid yield of 6.55%,
according to Thomson Reuters data.
The sovereign is seeking to raise up to US$600m through the
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)