Middle East Economic Survey
Mumtalakat Issues $750Mn In Conventional Bonds
Bahrain Mumtalakat Holding Company, the state owned investment vehicle with a portfolio value of around $9bn, issued its first conventional bonds on 23 June. The$750mn five-year bond offering was priced at a spread of 300 bps over mid-swaps. It was sold at an issue price of 99.077%, yielding 5.212% and with a coupon fixed at 5%. The transaction was managed by Deutsche Bank, HSBC Holdings,...