Bahrain inks bond market comeback with $1.5bn blowout
Bahrain yesterday shrugged off any remaining investor concerns about the intermittent social unrest seen in the country over the last year, pricing a successful $1.5bn 10 year conventional bond that traded up to 100.10-100.15 on Thursday morning. Citi, Gulf International Bank, JP Morgan and Standard Chartered arranged the note, which was priced at 99.867.
The country had priced a $750m seven year sukuk in November with a profit rate of 6.273%, but at the time syndicate officials away from the note said that the deal was not indicative of global investor interest, given that 62% was placed in the Middle East.
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