The Kingdom of Bahrain is planning a dual-tranche, benchmark sized US dollar denominated bond issue, according to a lead.

The sovereign has mandated Bank ABC, BNP Paribas, Credit Suisse, JP Morgan, Standard Chartered Bank to arrange a series of investor meetings across the Middle East, the US, Asia and the UK, beginning on September 28.

A 144A/Reg S transaction consisting of an intermediate tenor sukuk and a longer dated conventional tranche is expected to follow, subject to market conditions.

Bahrain is rated BB by Standard and Poor's and BB+ by Fitch.  - Reuters