Bahrain in Talks for $1 billion Loan after Bond Plans Suspended

2020-03-20 - 7:02 p

Bahrain Mirror: Bahrain is in talks with banks for a loan of about $1 billion after the Gulf state's plans to issue international bonds were suspended due to bad market conditions, sources told Reuters.

Bahrain hired a group of banks weeks ago for a potential U.S. dollar-denominated bond issue but the deal was suspended due to worsening market conditions caused by the global spread of the virus, four sources familiar with the matter said.

The Gulf state has now started talks with a small group of relationship banks to raise about $1 billion through a loan, three sources familiar with the matter said.

Bahrain did not respond to a request for comment.

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