HSBC predicts GCC bond sales to hit $40bn in 2014
HSBC Holdings, the biggest manager of bond sales in the six-nation GCC, has said debt issues in the region are expected to raise as much as $40bn in 2014, almost matching last year’s total, Bloomberg has reported. Sales will start to catch up with 2013 volumes in the next two months, Mustafa Aziz Ata, head of Middle East and North Africa debt capital markets at the London-based bank. “The market is going to pick up fairly quickly,” Aziz Ata said. “By mid-year we are going to be at the same levels, slightly lower” than last year, with between $35bn and $40bn by the end of 2014. Government-related companies and banks will lead sales, including some new issuers, he said.