Dechert Acts for Kingdom of Bahrain on US$2 Billion Bond and Sukuk Issuances

Dechert acted as English and U.S. counsel to the Kingdom of Bahrain, acting through the Ministry of Finance and National Economy, in connection with the updates of its Global Medium Term Note Programme and Trust Certificates Programme and the issuances of US$1 billion 7.5% Notes due 2036 and US$1 billion Trust Certificates due 2031 thereunder.

The issuances, which closed on 12 February 2024, reinforce Dechert’s role as a leading advisor to sovereign issuers across the Middle East and North Africa region.

The Dubai and London-based Dechert team that advised Bahrain included partners Patrick Lyons and Jennifer Rees, counsel Rafe Khokhar and associate Kerenza Kerslake. Dechert has advised Bahrain on all of its capital markets issuances since 2017, and this transaction follows a dual-tranche bond and Sukuk issuance in 2023.

Dechert’s international capital markets team based in Dubai, Hong Kong, London, Paris, Singapore and the United States has a strong track record advising on innovative capital markets transactions in the emerging markets and is a market-leading practice in the representation of sovereigns and state-owned enterprises.

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients' rights in extreme situations. Our 1,000+ lawyers across 21 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.