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))