Baker Botts represents Kingdom of Bahrain on USD1 billion bond offering

Baker Botts has represented the Kingdom of Bahrain in its issuance of USD1 billion 7.125 per cent senior unsecured notes due 2036 in a Rule 144A and Regulation S offering.

The issuance is the first Gulf sovereign to issue in the public bond market since the war in the region began. The notes were issued under the Kingdom’s Global Medium Term Note Programme and will be listed on the London Stock Exchange.

Arab Banking Corporation (B.S.C.), Citigroup Global Markets Limited, First Abu Dhabi Bank PJSC, J.P. Morgan Securities plc, National Bank of Bahrain B.S.C. and Standard Chartered Bank acted as joint bookrunners.

The Baker Botts International Corporate Markets Groups has advised on approximately $18.5 billion in bond and Sukuk issuances across the Middle East, North Africa, Central Asia and Europe, including matters involving Bahrain, Bosnia and Herzegovina, Egypt, Jordan, Kazakhstan, Morocco, Oman, and Sweden.

The team’s work has spanned debut sovereign offerings, dual-tranche and multi-currency issuances, conventional and Sukuk ESG issuances, Dim Sum bonds and other complex cross-border financings for governments, development banks and major financial institutions.

The Baker Botts Lawyers/Offices involved are: Corporate: Patrick Lyons partner, London); Jennifer Rees (partner, London); and Amy Rees (senior associate, London).