Bahrain Said to Hire JPMorgan, BNP, Deutsche for Bond

* username: rupertbu

Bahrain, the smallest oil producer among the six Gulf Arab states, hired JPMorgan Chase Bank NA, Deutsche Bank AG and BNP Paribas SA to manage the sale of a $1 billion-dollar bond, said a banker familiar with the deal.

Lead managers plan to start investor meetings in late March or early in the second-quarter, said the banker who declined to be identified because the deal is private. The sale will be registered in the U.S., he said.

Bahrain’s government plans to issue about $1 billion conventional bond, with a 10-year maturity to fund its budget, the central bank said in January.