Bahrain's Mumtalakat To Price $750M 5-Year Bond At Swaps +3.00

23rd Jun 2010 09:54

LONDON (Dow Jones)--Bahrain Mumtalakat Holding Co., the Gulf state's $10 billion sovereign wealth fund, has set price guidance on its $750 million, five-year bond at 300 basis points over midswaps, a bank running the sale said Wednesday. This is in line with initial guidance and comes after Mumtalakat finished a roadshow Tuesday in Europe. Deutsche Bank AG, HSBC Holdings PLC, JP Morgan Chase & Co. and Standard Chartered Bank are lead managers on the deal, which is expected to price later Wednesday, subject to market conditions. Standard & Poor's Corp. and Fitch Ratings have assigned the upcoming bonds an expected A rating. Mumtalakat has a portfolio worth around $10 billion, 98% of which is invested mainly in stakes across state-owned companies and other private investments, and 2% of which is allocated to external fund managers. -By Art Patnaude, Dow Jones Newswires; +44 (0) 207 842 9259; [email protected] (Clare Connaghan contributed to this report) (END) Dow Jones Newswires June 23, 2010 04:54 ET (08:54 GMT)