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Bahrain Mumtalakat sets yield for dollar five-year sukuk at 5 5/8%
By Rebecca Melvin
New York, Feb. 20 – Bahrain Mumtalakat Holding Co. BSC plans to price a dollar-denominated benchmark offering of five-year Islamic bonds, or sukuk, to yield 5 5/8%, according to a syndicate source.
Pricing was at the tight end of guidance of 5¾%, plus or minus 1/8%, and that was tightened from early guidance in the 6% area and initial price talk in the 6¼% area.
BNP Paribas, Citigroup, HSBC, National Bank of Bahrain and Standard Chartered are joint bookrunners for the deal.
Bahrain Mumtalakat is a real estate company based in Bahrain.
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