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The country's curve has rallied since the US and Iran agreed on a peace MoU
Most of the demand came from local investors, as one banker expected
Price was 'way off' fair value, according to a source on the deal
Rare borrowers Burjeel Holdings and Avilease also marketing deals
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More Gulf issuers readying deals for after Eid
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The book passed over $1bn and included international accounts as well as the usual Islamic buyers
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Only a few issuers will be able to bring deals as investors digest recent glut of issuance amid data and holiday disruption
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Bahrain is planning its first public issue since 2021
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Majority state-owned utility has used loans for the past two years rather than sukuk
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Debut international deal wins eager demand from Islamic investors and enthusiasts for Saudi risk