Bahrain

 

Bahrain $1.5Bn Bond Oversubscribed

The Bahraini government successfully issued a $1.5bn bond on 27 June which came in 400% oversubscribed. The 10-year paper carried a coupon of 6.125% and saw pricing of 437.5 basis points (bps) over benchmark mid swaps. This was at the tighter end of pricing guidance suggesting strong demand. It is also lower than the level seen for Bahrain’s November $750mn sovereign sukuk issue which was priced at 450 bps over mid swaps (MEES, 28...