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Bahrain launches $1.5 billion, 10-year bond

Bahrain's ringgit sukuk programme

The bond, Bahrain's first conventional issue since 2010, was launched at a spread of 437.5 basis points over midswaps; earlier guidance had signalled the deal would price between that level and 450 bps over midswaps.

June 27, 2012 7:18 by



Bahrain launched an offer of a $1.5 billion, 10-year bond on Wednesday, at the tighter end of earlier price guidance, indicating strong demand for the issue.

The bond, Bahrain’s first conventional issue since 2010, was launched at a spread of 437.5 basis points over midswaps; earlier guidance had signalled the deal would price between that level and 450 bps over midswaps.

JP Morgan, Citigroup, Gulf International Bank and Standard Chartered are lead arrangers on the deal, which will price later on Wednesday.

(Reporting by Mala Pancholia; Editing by Andrew Torchia)



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