Home GCC Bahrain Bahrain’s BBK Tightens Price Thoughts For 5-Year Benchmark Dollar Bond BBK has returned to the market in its first debt issue since 2010 to refinance an existing $500 million bond maturing in October. by Reuters March 17, 2015 BBK, formerly known as Bank of Bahrain and Kuwait, has slightly tightened price thoughts for a five-year U.S. dollar bond offer of benchmark size which may price on Tuesday, a document from lead managers showed. The lender tightened guidance to 195 basis points plus/minus 5 bps over midswaps, the document showed, from initial guidance set on Monday at around 200 bps. BBK has returned to the market in its first debt issue since 2010 to refinance an existing $500 million bond maturing in October. Order books have grown to around $800 million, the document showed. The offer by Bahrain’s fourth-largest bank by assets is being handled by BNP Paribas, HSBC and National Bank of Abu Dhabi. Rated BBB by Fitch, BBK is 32.1 per cent owned by the Bahraini government, with the Kuwait Investment Authority owning an 18.7 per cent stake, according to Thomson Reuters data. 0 Comments