March 29, 2018 / 7:59 AM / in a year

Bahrain says it may return to global market after calling off part of bond issue

DUBAI, March 29 (Reuters) - Bahrain may return to the international debt market to raise funds later this year, its central bank said on Thursday, after investors’ concern about its rising public debt level caused it to call off part of a planned bond issue this week.

The government sold $1 billion of 7-1/2-year Islamic bonds on Wednesday but decided not to go head with plans for an issue of conventional bonds, because it found the pricing demands of some investors too costly, banking sources said.

“The kingdom is expected to raise financings through other sources of funding, including local debt capital markets, and potentially could seek to come back to the international debt capital markets at a later stage in 2018,” the central bank said in a statement. (Reporting by Andrew Torchia Editing by Gareth Jones)

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