Bahrain has completed a $750m seven-year bond issue, the first time Bahrain issued a sukuk at this tenor and the first time that the country has tapped international markets since anti-government protests disrupted the country in mid-February.

The deal was priced at 450 basis points above the mid-swap rate, with a yield of 6.3 per cent.

France’s BNP Paribas, the UK’s Standard Chartered and Citigroup of the US arranged the deal. The deal attracted orders of $1.8bn with European investors taking up 20 per cent of the offer and Middle East investors 62 per cent.