Bahrain's oil company targets $1 bln through dual-tranche bond | Reuters

Bahrain's oil company targets $1 bln through dual-tranche bond | Reuters:

Bahrain’s state-owned oil company Nogaholding plans to raise $1 billion through a dual-tranche U.S. dollar-denominated bond on Wednesday, a document by one of the banks leading the transaction showed.

The deal is the first foray by a Bahraini entity into the international debt markets since the government obtained an aid package from its Gulf neighbours earlier this month.

Nogaholding, the investment arm of Bahrain’s National Oil and Gas Authority, tried to raise international funds in April, but that deal was delayed, partly by emerging-market weakness and partly by doubts among investors that Bahrain could repay its debt.