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Bahrain’s SWF hires banks for USD-dominated sukuk issuance

Bahrain’s SWF hires banks for USD-dominated sukuk issuance
Mumtalakat is set to hold meetings with investors

Mubasher: Mumtalakat Holding Company, the sovereign wealth fund (SWF) of Bahrain, has hired banks to arrange fixed income investor meetings ahead of the issuance of USD-dominated sukuk, Reuters reported on Tuesday.

The hired banks include Citibank, Gulf International Bank, HSBC, National Bank of Bahrain, and Standard Chartered.

Mumtalakat is set to hold meetings with investors in London, Asia, and the Middle East, starting Thursday.

These meetings may be followed by the issuance of a seven-year sukuk issuance subject to market conditions.

In 2019, Mumtalakat raised $600 million in sukuk and obtained orders of around $4 billion for the debt sale.