Commentary & Deal Flow

The Kingdom of Bahrain, acting through the Ministry of Finance and National Economy, rated B+ (negative) by S&P and B+ (negative) by Fitch, has mandated Abu Dhabi Commercial Bank, Bank ABC, Citi, First Abu Dhabi Bank, GIB Capital, J.P. Morgan, Sharjah Islamic Bank and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners to arrange a Global Investor Call on Tuesday 30 September 2025 at 10am UK / 12pm Bahrain / 5pm HK and a series of fixed income investor calls. A RegS / 144A US$-denominated benchmark size fixed rate transaction consisting of a Long 8-year sukuk pursuant to Bahrain’s Trust Certificate Issuance Programme and a 12-year bond pursuant to Bahrain’s Global Medium Term Note Programme may follow, subject to market conditions. FCA / ICMA stabilisation applies.