Investors from outside the Gulf have muscled in on two big bond issues from the region, taking very high portions of the debt on offer — a sign of international confidence in the region, but a source of frustration for some locals who wanted to buy more.
Just 43 per cent of Bahrain’s 10-year, $1.5 billion (Dh5.5 billion) sovereign bond, issued last Wednesday, was placed in the Middle East. Thirty-two per cent went to investors in Europe, including Britain, 14 per cent to the United States, and 11 per cent to Asia, according to official data.
By contrast, 63 per cent of Bahrain’s last international debt market outing, a seven-year, $750 million sukuk in November, was placed in the Middle East.
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