By Mary-Katherine Stinson
Lexington, Ky., April 11 – The Kingdom of Bahrain acting through the Ministry of Finance and National Economy sold a two-part offering totaling $2 billion, according to a notice.
The kingdom issued two dollar-denominated tranches, a $1 billion long seven-year sukuk senior note tranche and a $1 billion 12-year senior note tranche. Both tranches priced at par.
J.P. Morgan Securities plc, Citi, HSBC, First Abu Dhabi Bank, National Bank of Bahrain, Standard Chartered and Bank ABC are bookrunners.
The issuer is CBB International Sukuk Program Co. WLL.
The notes will be listed on the London Stock Exchange.
| Issuer: | CBB International Sukuk Program Co. WLL
|
| Amount: | $2 billion
|
| Bookrunners: | J.P. Morgan Securities plc, Citi, HSBC, First Abu Dhabi Bank, National Bank of Bahrain, Standard Chartered and Bank ABC
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Sukuk note
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| Amount: | $1 billion
|
| Issue: | Senior sukuk notes
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| Maturity: | 2030
|
| ISINs: | XS2611617619, US12482TAD00
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|
|
| 12-year note
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| Amount: | $1 billion
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| Issue: | Notes
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| Maturity: | 2035
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| Coupon: | 7¾%
|
| Price: | Par
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| Yield: | 7¾%
|
| ISINs: | XS2611617700, US05675M2K95
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