UPDATE 1-Bahrain says it may return to global market after calling off part of bond issue:
"Bahrain may return to the international debt market to raise funds later this year, its central bank said on Thursday, after investors’ concern about its rising public debt level caused it to call off part of a planned bond issue this week. The government sold $1 billion of 7-1/2-year Islamic bonds on Wednesday but decided not to go ahead with plans for an issue of conventional bonds, because it found the pricing demands of some investors too costly, banking sources said. The deal illustrated the growing market pressures on Bahrain, which is financing a state budget deficit caused by low oil prices while it is rated as junk by all three of the world’s top credit rating agencies."
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