Bahrain to start investor meetings ahead of multi-tranche dollar bond sale

Above, the junction of Bahrain Financial Harbour in Manama on March 14, 2011. The kingdom is targeting a seven-year sukuk, a 12-year conventional bond and/or a 30-year conventional bond. (Reuters)
Updated 22 March 2018
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Bahrain to start investor meetings ahead of multi-tranche dollar bond sale

DUBAI: Bahrain has hired BNP Paribas, Citi, Gulf International Bank, National Bank of Bahrain and Standard Chartered to arrange a series of fixed income investor meetings ahead of a potential multi-tranche dollar bond issue, a document from one of the banks showed on Thursday.
The kingdom, rated B+ by S&P and BB- by Fitch, is targeting a seven-year sukuk, a 12-year conventional bond and/or a 30-year conventional bond.
Government representatives will meet investors in Asia, Britain, the Middle East and the US starting from March 23. A transaction will follow, subject to market conditions.


BlackRock boss remains bullish on Saudi Arabian market

Updated 17 July 2018
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BlackRock boss remains bullish on Saudi Arabian market

LONDON: Larry Fink, the head of the world’s biggest asset manager, is confident about the future of the Saudi Arabian market following a visit to the
Kingdom.
Fink, CEO of BlackRock, said that he was “more excited about the opportunity” in Saudi Arabia following his visit.
He added that he would not be surprised to see an initial public offering of Saudi Aramco in some form next year, perhaps on the Saudi stock market, known as the Tadawul.
He was speaking on the day Black Rock reported smaller demand for its funds on Monday, and its stock dropped despite a better-than-expected quarterly profit. Net income attributable to the company rose to $1.07 billion in the second quarter, up more than 25 percent from $854 million a year earlier, Reuters reported.
The company faced a difficult market during the quarter, reporting an industrywide slowdown in the demand for exchange-traded funds (ETFs).
The BlackRock CEO said he would not be surprised to see an initial public offering of Saudi Aramco in some form next year.