Bahrain: Investors pile into 30-year bond issue

Strong demand was reported at the launch of Bahrain’s $1.25bn US dollar bond issue on 10 September, allowing the kingdom to benefit from apparently renewed investor confidence to raise an amount larger than previously expected. The 30-year sovereign bond carried a 6% coupon. Its order book exceeded $6bn, as arrangers Citi, Gulf International Bank (GIB), Mitsubishi UFJ Financial Group and Standard Chartered Bank reported a major success. Some 41% of the issuance was sold to investors in the United States, 33% to Europe, 23% to the Middle East and North Africa and 3% to Asia.