Citigroup gets Bahrain mandate for bonds

  • Business
  • Thursday, 01 Jul 2004

MANAMA: The Bahrain Monetary Agency has mandated Citigroup Inc to manage its first issue of international Islamic bonds worth US$250mil, a BMA official said yesterday. 

The BMA, Bahrain's central bank, said in February it plans to sell the Sukuk issues throughout the Gulf and in Malaysia. 

“Citigroup will arrange the investors for us and they have also done the structure of transaction,” BMA official Salman Akbar told Reuters. “This is the first time we have tapped into the global markets. We are open to two more options depending on the appetite for them.” 

The five-year floating rate note matures on June 30, 2009, according to a BMA statement. – Reuters  

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