New York, April 1 – Bahrain’s Oil & Gas Holding Co. BSC, or Nogaholding, priced a $600 million eight-year Islamic bond on Wednesday at par, according to a notice.
The issuer is nogaholding Sukuk Ltd.
J.P. Morgan Securities plc, Gulf International Bank, HSBC and BNP Paribas managed the deal with JPMorgan as coordinator.
The sukuk was sold under Rule 144A and Regulation S.
Fitch Ratings gave Nogaholding’s sukuk program a B+ rating on Monday.
Nogaholding is the state-owned strategic investment and development arm of the sovereign’s oil and gas authority.
| Issuer: | nogaholding Sukuk Ltd.
|
| Guarantor: | Oil & Gas Holding Co. BSC (Nogaholding)
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| Issue: | Sukuk
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| Amount: | $600 million
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| Maturity: | 2029
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| Bookrunners: | J.P. Morgan Securities plc (coordinator), Gulf International Bank, HSBC and BNP Paribas
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| Price: | Par
|
| Pricing date: | March 31
|
| Rating: | Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
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