Bahrain’s National Oil and Gas Holding Company (NOGA Holding) is expected to sell $500 million in eight-year sukuk, or Islamic bonds, on Wednesday, a document from one of the banks on the deal showed.
NOGA, wholly owned by the Bahraini government, gave initial price guidance of 5.75%-5.875% for the sukuk, which are expected to launch later on Wednesday.
Gulf International Bank, HSBC HSBA.L, JPMorgan JPM.N and BNP Paribas BNPP.PA are arranging the deal.
Source Nasdaq