Bahrain has sent out a request for proposals to banks ahead of a potential Eurobond issuance, according to two sources.

The sovereign, rated Baa2/BBB/BBB, plans to issue the note through its central bank.

The timing of the deal will be September at the earliest, one of the sources said.

Bahrain was last in the market in July last year, when it issued a $1.5 billion 6.125 per cent 10-year note.

BNP Paribas, Citigroup, JP Morgan and GIB Capital managed that trade.-Reuters