Bahrain is tapping the international bond market about a year after it secured a bailout package from its wealthier neighbors.
The island kingdom won’t raise more than $2 billion from the sale of dollar-denominated debt, which includes Sharia-compliant securities due 2027 and a conventional bond due 2031, according to a person familiar with the matter, who isn’t authorized to speak publicly and asked not to be identified. The deal may price today.
DETAILS OF BAHRAIN’S BOND OFFERING:
- Sukuk due 2027 to yield around 4.75% versus initial price thoughts of between 4.875% and 5%
- Bond due 2031 to yield between 5.75% and 5.875% versus indicative price range of 5.875% to 6%
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