Bahrain gives initial price guidance for multi-tranche dollar bond

Dubai: Bahrain has given initial price guidance for a multi-tranche dollar bond issue which is expected to raise at least $1.5 billion (Dh5.51 billion) in total.

The guidance is in the 5.625 per cent area for a long seven-year sukuk issue, in the 7.25 per cent area for a 12-year conventional bond and in the 7.875 per cent area for a 30-year conventional bond, according to a lead bank.

Bahrain hired BNP Paribas, Citi, Gulf International Bank, JP Morgan and National Bank of Bahrain to arrange a series of fixed income investor meetings ahead of the potential debt issuance.

Country representatives started meeting investors last Friday and ended the roadshows in New York on Tuesday.