LONDON, July 24 (IFR) - The Kingdom of Bahrain has launched
a USD1.5bn 10-year bond at the tight end of guidance, according
to one of the lead managers.
The sovereign, rated BBB/BBB, launched the transaction at a
yield of 6.20%, the tight end of guidance of 6.25% area (plus or
minus 5bp), and some 30bp inside initial price thoughts of 6.50%
The order book for the issue, which matures on August 1,
2023, was heard close to USD8bn before launch.
BNP Paribas, Citigroup, Gulf International Bank and JP
Morgan are leads on the 144A/Reg S transaction, which is
expected to price later on Wednesday.
(Reporting by Davide Scigliuzzo; Editing by Julian Baker)