Kingdom of Bahrain (BHRAIN)

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Kingdom of Bahrain (BHRAIN)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	SSA	PRCD	BHRAIN	Kingdom of Bahrain	$2,000		2	EMEA	Nov 10, 2021

Tranche #1Kingdom of Bahrain

currency

USD

size (m)

1,000.000

maturity

May 18, 2029

type

Fixed

tenor

7.500

call

registration

144A/Reg S

benchmark

Tsy

ranking

Sr. Unsecured

moody's

s&p

B+

fitch

B+

re-open/tap

ipt

4.25-4.375%

ipt-pxd

guidance

3.75-3.875%

spread

242

coupon

3.875%

spread set

price

100.00000

yield

3.875%

book size (m)

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche #2Kingdom of Bahrain

currency

USD

size (m)

1,000.000

maturity

May 18, 2034

type

Fixed

tenor

12.500

call

registration

144A/Reg S

benchmark

Tsy

ranking

Sr. Unsecured

moody's

s&p

B+

fitch

B+

re-open/tap

ipt

6-6.125%

ipt-pxd

guidance

5.625%

spread

406.1

coupon

5.625%

spread set

price

100.00000

yield

5.625%

book size (m)

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche Comments

7.5 yr: Registration: 144A/Reg S; Comments: USD1bn snr unsec 7.5yr sukuk and 12.5yr bond RegS/144A. NR/B+/B+. BNPP/Citi/HSBC/JPM/NBBah. 7.5y IPTs 4.25%/4.375%, guid 4%/4.125%, FPG 3.75%/3.875%, launch 1bn at 3.875%, 12.5yr IPTs 6%/6.125%, guid 5.875%/6%, set 5.625%. Combined bks subj >6bn ex-JLM (small skew to 12.5y), USD1bn each. Sukuk via CBB International Sukuk Programme Co WLL. Sukuk T 1 ⅜ 10/28 @ 99-15 +242.0bps, T 1 ¼ 08/31 @ 97-05+ +406.1bps; 12.5 yr: Registration: 144A/Reg S; Comments: USD1bn snr unsec 7.5yr sukuk and 12.5yr bond RegS/144A. NR/B+/B+. BNPP/Citi/HSBC/JPM/NBBah. 7.5y IPTs 4.25%/4.375%, guid 4%/4.125%, FPG 3.75%/3.875%, launch 1bn at 3.875%, 12.5yr IPTs 6%/6.125%, guid 5.875%/6%, set 5.625%. Combined bks subj >6bn ex-JLM (small skew to 12.5y), USD1bn each. Sukuk via CBB International Sukuk Programme Co WLL. Sukuk T 1 ⅜ 10/28 @ 99-15 +242.0bps, T 1 ¼ 08/31 @ 97-05+ +406.1bps. LEI: 549300RODM1WN85LFQ95;

Deal Comments

Sukuk Bond

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