UPDATE 1-Bahrain markets sukuk, does not proceed with conventional bond -sources:
"Bahrain is marketing an international issue of U.S. dollar-denominated Islamic bonds, but is not proceeding with a proposed conventional bond sale because of the pricing demands of some investors, banking sources said on Wednesday. The kingdom started meeting investors last week ahead of its planned international debt issuance. It was considering making a long seven-year sukuk issue, and also an issue of 12- or 30-year conventional bonds, or both, depending on market conditions, documents from the banks leading the deal showed. On Wednesday, Bahrain gave initial price guidance in the 7 percent area for the sukuk, documents from the banks showed, but they made no reference to the conventional bonds, and a banker involved in the deal confirmed to Reuters that the conventional tranche was no longer planned."
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