Bahrain, troubled by ongoing social unrest, is testing whether it could draw investors into a potential sovereign bond sale, although the issuance is unlikely to be imminent, government and banking sources said on Wednesday.
A year of clashes between mostly Shi'ite-led protesters and Sunni government security forces has been weighing on the small non-OPEC oil exporter, eroding capital parked in its mutual funds, while fiscal handouts have raised the country's vulnerability to a potential oil price drop.
"Bahrain sent out RFPs (requests for proposals) earlier this week. There are no mandates yet but they seem to be very serious about tapping the market," said a banker, who did not want to be identified.
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