Bahrain hires banks for multi-tranche dollar bonds

Bahrain hired Bank ABC, Citi, Gulf International Bank, HSBC, JPMorgan, National Bank of Bahrain and Standard Chartered to arrange investor calls

  
An employee counts U.S. dollar bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

An employee counts U.S. dollar bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

REUTERS/Mohamed Abd El Ghany

DUBAI  - Bahrain has hired a group of banks to arrange a multi-tranche U.S. dollar-denominated bond sale, as Gulf borrowers line up to tap the market following the end-of-year lull.

Bahrain hired Bank ABC, Citi, Gulf International Bank, HSBC, JPMorgan, National Bank of Bahrain and Standard Chartered to arrange investor calls  starting on Tuesday, a document from one of the banks showed.

An issuance comprising benchmark tranches of seven years, 12 years and/or 30 years will follow, subject to market conditions, the document said. Benchmark generally means at least $500 million.

(Reporting by Yousef Saba; Editing by Alison Williams) ((Yousef.Saba@thomsonreuters.com; +971562166204))

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