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

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.


Report: 2 Iranian lawmakers arrested for ‘disrupting’ market

Updated 22 August 2019

Report: 2 Iranian lawmakers arrested for ‘disrupting’ market

  • The report did not reveal if they have been charged with any financial crimes
  • Iran arrested several people since 2018 on corruption charges

TEHRAN: Iran’s semi-official Fars news agency says two lawmakers have been arrested for unspecified actions described as “disrupting” the country’s car market.
The report says the two lawmakers — Fereydoun Ahmadi and Mohammad Azizi — were initially taken to the Evin prison in Tehran but they were later released for about $85,000 in bail.
The report didn’t specify if the two have been charged with any financial crimes.
Iran is trying to crack down on corruption and has arrested several persons since 2018. Two prominent local businessmen have been hanged.
Iran’s economy nosedived since the US pullout from the nuclear deal last year. Prices of cars have skyrocketed as Western manufacturers pull out of the country and foreign-produced parts are becoming harder to find. China is trying to fill the void.