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|22 March, 2018

Bahrain to start investor meetings ahead of multi-tranche dollar bond sale

Bahrain is targeting a seven-year sukuk, a 12-year conventional bond and/or a 30-year conventional bond.

U.S. Dollar and Euro notes are seen in this June 22, 2017 illustration photo.

U.S. Dollar and Euro notes are seen in this June 22, 2017 illustration photo.

REUTERS/Thomas White

DUBAI  - Bahrain has hired BNP Paribas, Citi, Gulf International Bank, National Bank of Bahrain and Standard Chartered to arrange a series of fixed income investor meetings ahead of a potential multi-tranche dollar bond issue, a document from one of the banks showed on Thursday.

The kingdom, rated B+ by S&P and BB- by Fitch, is targeting a seven-year sukuk, a 12-year conventional bond and/or a 30-year conventional bond.

Government representatives will meet investors in Asia, Britain, the Middle East and the U.S. starting from March 23. A transaction will follow, subject to market conditions.

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(Reporting by Davide Barbuscia Editing by Mark Potter) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))