Bahrain builds out curve to 30 years with eye on infrastructure

The Kingdom of Bahrain planted a new fixed income flag for its borrowers to follow in the form of the country’s first 30 year bond. Movements in the underlying US Treasury market sidelined some emerging market accounts looking to buy the deal but a final book of almost $6bn ensured a minimal new issue premium for a bond that provides an important reference point for Bahraini project finance.