Weather New York, NY +89°F

Regions

Saudi debt and equity capital markets hire HSBC on deals

Close
(Credit: Reuters) Image shows the logo of HSBC Holdings Plc.HSBC Holdings Plc
October 24
3:39 AM 2013

HSBC Holdings said borrowers in Saudi Arabia had obtained its banks services to manage several debt and equity capital market transactions. HSBC Saudi Arabia Head of Capital Markets and Corporate Finance Fahad Al Saif told Bloomberg in a phone interview that the borrowers were from the power and utility, food and financial sectors. He added that there would be a lot of initial public offerings in Saudi next year.

Al Saif did not disclose the names of the companies but said, "HSBC has several debt capital market mandates in the pipeline for the rest of the year and first quarter of 2014. Sectors such as transport need financing. Port companies, railways and airlines are looking to do this either through banks or sukuk." He also expected that sukuk or Islamic bonds worth USD 2.7 billion would be issued before the end of 2013.

Data gathered by Bloomberg showed that companies in Saudi Arabia had so far raised USD 12 billion from selling Islamic debt this year. This was an increase from the USD 8.8 billion raised last year.

© 2019 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics