Bahrain edges EM wider open with 5.5 times subscribed deal
The Kingdom of Bahrain moved emerging markets’ bond recovery beyond top tier issuers on Thursday as it printed a $2bn dual tranche dollar trade that raked in $11bn of demand.
B+/BB- rated Bahrain held an investor call on Wednesday before announcing a Thursday deal of 4.5 year sukuk and 10 year notes.Since the Covid-19 coronavirus crisis, investors have lapped up GCC issuance. But that high demand has flocked to highly rated credits – Abu Dhabi, Saudi Arabia ...
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