New Issue: Bahrain's Batelco prices $650 million 4¼% notes due 2020 at Treasuries plus 325 bps

By Christine Van Dusen

Atlanta, April 29 - Bahrain Telecommunications Co. BSC (Batelco) - through special purpose vehicle Batelco International Finance No. 1 Ltd. - priced a $650 million issue of 4¼% seven-year notes (/BBB-/BBB-) at 99.45 to yield 4.342%, or Treasuries plus 325 basis points, a market source said.

BNP Paribas and Citigroup were the bookrunners for the Regulation S-only deal.

The Bahrain-based telecommunications operator is 78% owned by the Kingdom of Bahrain.

Issuer:	Batelco International Finance No. 1 Ltd.
Amount:	$650 million
Maturity:	May 1, 2020
Description:	Notes
Bookrunners:	BNP Paribas, Citigroup
Coupon:	4¼%
Price:	99.45
Yield:	4.342%
Spread:	Treasuries plus 325 bps
Trade date:	April 29
Settlement date:	May 2
Ratings:	Standard & Poor's: BBB-
	Fitch: BBB-
Distribution:	Regulation S only

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.