Published on 7/5/2019 in the Prospect News Emerging Markets Daily.
New Issue: Bank of Bahrain and Kuwait prices $500 million 5½% five-year notes
By Rebecca Melvin
New York, July 5 – Bank of Bahrain and Kuwait BSC priced $500 million of 5½% notes due 2024 at 99.87 to yield 5.53%, or a yield spread of mid-swaps plus 375 basis points, according to a market source.
The Regulation S notes priced on Tuesday via Bank ABC, Emirates NBD Capital, First Abu Dhabi Bank, HSBC and J.P. Morgan as joint lead managers and bookrunners.
The lender is headquartered in Manama, Bahrain.
| Issuer: | Bank of Bahrain and Kuwait BSC
|
| Issue: | Notes
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| Amount: | $500 million
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| Maturity: | July 9, 2024
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| Bookrunners: | ABC, Emirates NBD Capital, First Abu Dhabi Bank, HSBC and J.P. Morgan
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| Coupon: | 5½%
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| Price: | 99.87
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| Yield: | 5.53%
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| Spread: | Mid-swaps plus 375 bps
|
| Pricing date: | July 2
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| Settlement: | July 9
|
| Distribution: | Regulation S
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