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Bahrain world trade center in the evening. Getty Images Image used for illustrative purpose
Prices have tightened for Kingdom of Bahrain’s Regulation S/144A benchmark-sized USD-denominated dual tranche issuances.
They came in at 6.25% for the $1.75 billion 8-year sukuk, narrowing from initial price thoughts (IPTs) of around 6.625%, and around 7.50% for the $750 million 12-year bond, narrowing from 7.750%.
Combined books were at $6.3 billion (excluding joint lead manager interest), with a skew to the sukuk tranche.
The 8-year Ijara/Murabaha sukuk issuance is under the Bahrain's Trust Certificate Issuance Programme and the 12-year senior, unsecured bond is issued under Bahrain’s Global Medium Term Note Programme.
(Writing by Brinda Darasha; editing by Bindu Rai)
