Bahrain’s Noga gives initial price guidance for 10-year bond -lead

DUBAI: Bahrain’s Oil and Gas Holding Company (Noga) has given initial price guidance for its planned 10-year US dollar benchmark bond in the high 7 per cent range, a document issued by one of the banks leading the deal showed on Wednesday.

Benchmark deals are conventionally meant to be upwards of $500 million.

Citi, JP Morgan, Bank ABC, BNP Paribas, Gulf International Bank and HSBC are the joint lead managers and joint bookrunners on the deal.

The bond is expected to price later on Wednesday.