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The Kingdom of Bahrain is marketing its US dollar long eight-year sukuk offering and a 12-year bond at initial price thoughts (IPTs) in the 6.625% area and 7.5% area, respectively.
The sukuk will be issued by CBB International Sukuk Programme Company, with Bahrain as the obligor.
The 144A/Reg S offering will be rated B/B+ (S&P/Fitch), same as the sovereign.
BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JP Morgan, Mashreq and National Bank of Bahrain are joint bookrunners on the bond. Dubai Islamic Bank, along with the others, are joint bookrunners on the sukuk.
The issuances will be listed on the London Stock Exchange.
(Writing by Brinda Darasha; editing by Seban Scaria)
