Bahrain 'snubbing Qatari investors' in record bond sale

Dubai

BAHRAIN refused to process bids by Qatari investors for its largest-ever bond offering after cutting ties with the gas-rich Gulf state in June, according to two people familiar with the matter.

Doha-based companies that submitted bids for Bahrain's US$3 billion debt sale last week weren't given allocations because the island state, along with other Gulf economies, are cutting their financial exposure to Qatar, the people said, asking not to be identified because the matter is private.