By Robert Hogg

Feb 21 (IFR) - The Kingdom of Bahrain has released guidance for a tap of its US$1bn October 2028 bond at 6.75% area, according to a lead.

The reopening was initially marketed at 6.85% area. The bond closed on Monday at a bid yield of 6.55%, according to Thomson Reuters data.

The sovereign has capped the tap at US$600m. The order books are in excess of US$1.6bn.

The 144A/Reg S deal is today's business. Bank ABC, BNP Paribas, Credit Suisse, JP Morgan (B&D) and Standard Chartered are the leads.

Bahrain is rated BB- by Standard & Poor's and BB+ by Fitch.

(Reporting by Robert Hogg; editing by Sudip Roy) ((Robert.Hogg@thomsonreuters.com; +44 207 542 9077;))