Commentary & Deal Flow

IPTs: 10yr: 7.50%a

• Issuer: The Kingdom of Bahrain, acting through the Ministry of Finance and National Economy
• Issuer LEI: 549300RODM1WN85LFQ95
• Issuer Ratings: B (Stable) by S&P / B (Stable) by Fitch
• Expected Issue Ratings: B by S&P / B by Fitch
• Documentation: Global Medium Term Note Programme
• Format: 144A / Reg S
• Status: Senior, Unsecured
• Currency: U.S. Dollars
• Issue Size: Benchmark
• Settlement Date: 10-Jun-26
• Tenor: 10-year
• Maturity Date: 10-Jun-36
• IPTs: 7.500% area
• Coupon: FXD SA 30/360
• Denominations: U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof
• Business Days: New York and London
• Listing: Main Market of the London Stock Exchange plc
• Governing Law: English law
• Joint Lead Managers and Bookrunners: Bank ABC, Citi, First Abu Dhabi Bank, National Bank of Bahrain, J.P. Morgan and Standard Chartered Bank
• Billing & Delivery: J.P. Morgan
• RegS ISIN / Common Code: XS3381699902 / 338169990
• Rule 144A ISIN / Rule 144A CUSIP: US05675M2R49 / 338596715
• Stabilisation: FCA/ICMA
• Timing: Books open, today’s business