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LONDON, Feb 21 (IFR) - The Kingdom of Bahrain has launched a US$600m tap of its US$1bn October 2028 bond at a yield of 6.65%, according to a lead.
Demand is in excess of US$2.6bn.
Guidance was at 6.75% area while the reopening was initially marketed at 6.85% area.
The bond closed on Monday at a bid yield of 6.55%, according to Thomson Reuters data.
The 144A/Reg S deal is today's business via Bank ABC, BNP Paribas, Credit Suisse, JP Morgan (B&D) and Standard Chartered.
Bahrain is rated BB- by Standard & Poor's and BB+ by Fitch. (Reporting by Sudip Roy, editing by Julian Baker)