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HSBC Sees Recovery in Gulf State-Linked Bond Sales: Arab Credit

Published: 10/12/2012 08:24:12 AM GMT
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The Middle East's biggest debt underwriter said bond sales by government-related companies in the Persian Gulf will pick up at the start of 2013 to su (more)

The Middle East's biggest debt underwriter said bond sales by government-related companies in the Persian Gulf will pick up at the start of 2013 to support more than $1 trillion in planned spending.

There's reason to be "optimistic" for sales by government-related enterprises at the start of next year, said Georges Elhedery, head of global markets for the Middle East and North Africa at HSBC Holdings Plc. (HSBA) Issuance this year by so- called GREs fell to about $9.9 billion from about $13 billion in 2011 and compared with $8 billion a year earlier, according to data compiled by Bloomberg.

"The first quarter of 2013 is going to be busy," he said in an interview at his office in Dubai on Dec. 4. "It's difficult to see beyond that."


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