Bahrain is to issue a $500 million five-year sovereign Eurobond early next year, a significant expansion of its presence on international capital markets.
The bond, which will be lead managed by Salomon Smith Barney and BNP Paribas, is expected to be marketed mainly to regional institutions. The political uncertainties in the Middle East, which have already caused some western banks to withdraw money from Bahrain, is likely to lessen its appeal to European and US investors.
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