Bahrain edges EM wider open with 5.5 times subscribed deal

By Ross Lancaster
07 May 2020

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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