Bahrain’s government has selected banks for a planned international bond issue, sources familiar with the matter said on Wednesday.
BNP Paribas, Citi and JPMorgan have been chosen to arrange the transaction, along with Gulf International Bank and National Bank of Bahrain, the sources said.
Bahrain’s central bank did not immediately respond to a request for comment.
The government is covering a budget deficit caused by low oil prices partly through international borrowing, and officials said on Tuesday that it would return to the debt markets soon to raise money.
The same five banks helped to arrange $3 billion of bond issues by Bahrain in September last year, including $1.25 billion of 12-year notes, $900 million with a 30-year tenor and an $850 million Islamic bond.
Bahrain raises gasoline pricesBahrain raised gasoline prices on Monday to bring them closer to international ... Economy
Bahrain tourism projects valued at over $13 blnThe Bahrain Economic Development Board (EDB) recently revealed investment in ... Economy
Bahrain reaffirms dollar peg, says economy robust after S&P cutS&P Global Ratings lowered Bahrain’s long-term foreign and local ... Economy
Bahrain’s non-oil sector expands almost 5% in first half of 2017Bahrain’s non-oil sector of it’s economy expanded by an annual pace of ... Economy