Bahraini Fund Mumtalakat Launches $600m Seven-Year Sukuk

Bahrain sovereign fund Mumtalakat has launched a $600 million seven-year sukuk at the tight end of its previously-marketed price range, with the sale set to complete later on Tuesday, a document from lead managers said.

The sukuk pricing was last revised to 210 basis points, plus or minus five bps, over midswaps, after being marketed initially at 220 bps over the same benchmark guidance.

BNP Paribas, Deutsche Bank, Mitsubishi UFJ Financial Group and Standard Chartered are arrangers to the deal.

Arab Banking Corporation and National Bank of Bahrain are co-leads in the issue, the document said.