Bahrain has revised price guidance for a dual tranche dollar-denominated bond transaction of benchmark size, which will price later on Tuesday, a document from lead arrangers showed.

The kingdom has revised price thoughts to the area of 5.875 per cent on the five-year portion of the bond, from the initial guidance of high five percent set earlier in the day, the document showed.

Bahrain maintained its guidance on the ten year tranche in the area of seven per cent.

Combined order book for the transaction was north of $2 billion, it showed, adding that order books will go subject at 1400 GMT.

Bank ABC, BNP Paribas, Citigroup, HSBC and JP Morgan are the lead arrangers for the transaction.-Reuters