Bahrain sets guidance on 10-yr dollar bond

Bahrain has set guidance on a planned 10-year dollar bond at 210 basis points over mid-swaps with pricing expected on Wednesday, IFR, a Thomson Reuters news and information service, reported on Tuesday. The guidance is in line with earlier price whispers of mid-swaps plus low-200 bps. Lead managers are BNP Paribas, Deutsche and JPMorgan. The island kingdom plans to raise $1bn in the first sovereign issue from the Gulf following Dubai's debt crisis. The single A-rated country last tapped the market in June last year with a five-year Islamic bond worth $750m at 340 basis points over US Treasuries.