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Bahrain prices $750 mln 7-yr benchmark Sukuk

Posted on 17 November 2011

Bahrain priced a $750 million seven-year Islamic bond, or sukuk, at a profit rate of 6.273 percent on Wednesday, in line with guidance. The Gulf state, hit by political upheaval earlier this year, had earlier indicated price talk of 450 basis points over midswaps.

Investor meetings for the bond ended on Tuesday. BNP Paribas , Citi, and Standard Chartered are arranging the deal. Bahrain had initially looked to sell a $1 billion conventional bond at the beginning of the year but, having invited banks to pitch for roles on the transaction, was forced to postpone plans amid political unrest affecting the kingdom and the wider Arab region……………………………………..Full Article: Source

 
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