Published on 6/27/2012 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Bahrain prices $1.5 billion 6 1/8% notes due 2022 at mid-swaps plus 437.5 bps
By Christine Van Dusen
Atlanta, June 27 - The Kingdom of Bahrain sold $1.5 billion 6 1/8% notes due July 5, 2022 (/BBB/BBB) at 99.867 to yield 6.143%, or mid-swaps plus 437.5 basis points, a market source said.
The notes priced tighter than talk, which was set at mid-swaps plus 462.5 bps.
Citigroup, Gulf International Bank, JPMorgan and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.
Issuer: | Kingdom of Bahrain
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Amount: | $1.5 billion
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Maturity: | July 5, 2022
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Description: | Notes
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Bookrunners: | Citigroup, Gulf International Bank, JPMorgan, Standard Chartered Bank
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Coupon: | 6 1/8%
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Price: | 99.867
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Yield: | 6.143%
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Spread: | Mid-swaps plus 437.5 bps
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Trade date: | June 27
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Settlement date: | July 5
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Ratings: | Standard & Poor's: BBB
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| Fitch: BBB
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Distribution: | Rule 144A and Regulation S
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Price talk: | Mid-swaps plus 462.5 bps
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