February 21, 2017 / 8:35 AM / 9 months ago

Bahrain reopening US$1bn October 2028 bond for up to US$600m

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)

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