Norton Rose Fulbright advises Kingdom of Bahrain on US$600m eurobond issuance

Business February 28, 2017

Global law firm Norton Rose Fulbright has advised the Kingdom of Bahrain on its US$600m eurobond issuance, which closed today. The bonds will form a single series with existing US$1bn eurobonds, issued on 12 October 2016, on which Norton Rose Fulbright also advised.

The 12 year eurobonds were offered under Rule 144A and Regulation S of the US Securities Act of 1933 to investors in the United States and internationally. The eurobonds were admitted to listing on the Official List of the Irish Stock Exchange and to trading on the Irish Stock Exchange plc’s regulated market.

The joint lead managers on the US$600m eurobond were Bank ABC, BNP Paribas, Credit Suisse, J.P. Morgan and Standard Chartered Bank. National Bank of Bahrain co-managed the offering. 

Peter Young, partner, Norton Rose Fulbright, comments:

“We are delighted to have assisted the Kingdom of Bahrain yet again in accessing the international capital markets. This transaction further demonstrates the strength of international investor confidence in Bahrain as a sovereign issuer.” 

Norton Rose Fulbright’s debt capital markets team was led by Peter Young assisted by associate, Tudor Plapcianu. 

This transaction is one of a number of sovereign bond issuances that Norton Rose Fulbright’s global capital markets practice has advised on, having most recently advised the Kingdom of Bahrain on its $1 billion eurobond and $1 billion sukuk issuances, each of which closed on October 12, 2016.

The firm also advised the Republic of Angola on its US$1.5 billion debut bond issue, the largest inaugural issuance by a non-investment grade sub-Saharan African sovereign to date, as well as the Islamic Republic of Pakistan on multiple sovereign eurobond and sukuk offerings.

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