Bahrain Dollar Bonds Rebound after Saudi, UAE, Kuwait Pledge Support
2018-06-27 - 8:20 p
Bahrain Mirror- Reuters: Bahrain sovereign dollar bonds rebounded sharply across the curve on Wednesday, after Saudi Arabia, United Arab Emirates and Kuwait said they would support the country financially.
The 2023 issue jumped 4.5 cents to 92.9 cents in the dollar according to Tradeweb, while the 2022 eurobond rose 4.3 cents to 94.82 cents.
The country's sukuk issuance also rallied, with the 2024 bond up 3.3 cents to 93.69 cents, according to Tradeweb.
Some Bahrain sovereign bonds plumbed record lows on Monday as overseas investors worried about the country's ability to avoid a funding crunch.
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