Nogaholding in talks with banks for debut bond

Nogaholding,

the investment arm of Bahrain’s National Oil and Gas Authority (NOGA), has approached banks with the aim of setting up an international bond programme, sources close to the situation said yesterday.

A potential fundraising exercise by the Bahraini company in the international debt markets would come at a busy time for the Gulf, as banks, corporates and governments seek to borrow US dollars to offset the negative impact of lower oil prices. The bond programme could be either for conventional bonds or for sukuk. (Reuters)