Bahrain Sells $2 Billion Dual Tranche Bonds
Posted on 05/08/2020
The Bahrain government sold US$ 2 billion in a dual-tranche bond issuance comprising 4.5-year sukuk, or Islamic bonds, and 10-year conventional bonds. Bahrain sold US$ 1 billion in sukuk at 6.25% and the US$ 1 billion 10-year bonds at 7.375%. Bahrain is keen on boosting its finance its fiscal deficit. Bahrain said it expects a deficit of 4% of gross domestic product for this year.
Bahrain hired Bank ABC, Gulf International Bank, HSBC, JPMorgan, National Bank of Bahrain, and Standard Chartered to arrange the bond deal.
