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MANAMA - The Kingdom of Bahrain, acting through the Ministry of Finance and National Economy, has launched a USD benchmark sukuk offering, according to a stabilization notice issued Wednesday.
J.P. Morgan Securities plc will serve as the stabilization coordinator for the senior unsecured note with a long 8-year maturity. The sukuk will be issued through CBB International Sukuk Programme Company W.L.L. and is expected to be listed on the London Stock Exchange.
The stabilization period is scheduled to begin October 1, 2025, and end no later than November 1, 2025. During this time, stabilizing managers may over-allot securities in an amount not exceeding 5% of the aggregate nominal amount to support the market price.
Seven financial institutions will join J.P. Morgan as stabilization managers: Abu Dhabi Commercial Bank, Bank ABC, Citi, First Abu Dhabi Bank, GIB Capital, Sharjah Islamic Bank, and Standard Chartered Bank.
The offering will have a minimum denomination of USD 200,000 with increments of USD 1,000. The final offer price has not yet been determined.
The sukuk has not been registered under the United States Securities Act of 1933 and is not being offered in the United States. The offering is primarily directed at qualified investors outside the United Kingdom and those within the UK who have professional experience in investment matters.
This information is based on a stabilization notice released by J.P. Morgan Securities plc as the stabilization coordinator.
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