Bahrain sets early price guidance for 10-yr benchmark-sized bond

DUBAI, July 24 Wed Jul 24, 2013 4:00am EDT

DUBAI, July 24 (Reuters) - The kingdom of Bahrain plans to issue a benchmark-sized U.S. dollar bond carrying a 10-year maturity, arranging banks said on Wednesday, and has set early price guidance.

Initial price thoughts for the deal, which is open to U.S. institutional investors, were given in the 6.5 percent area. Benchmark-size is typically at least $500 million for investment-grade credits.

Bahrain is rated BBB by Standard & Poor's and Fitch Ratings.

BNP Paribas, Citigroup Inc, Gulf International Bank and JP Morgan Chase & Co are bookrunners on the deal.

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